Canadian consumer confidence holds steady
Canadian consumers remain relatively upbeat according to the latest Blomberg Nanos Canadian Consumer Confidence Index.
The weekly poll shows that nationally, the index is at 57.38, slightly higher than 4 weeks ago. Both components of the index – the one tracking personal finances and job security, and the one tracking the outlook for the economy and real estate – increased.
Even in the Prairies, where confidence is lower than the national average, the index hit a 12-month high in the poll carried out last week.
The national index is up from 56.74 a week ago and well above the 2019 low seen in February (54.15) but below the year’s high so far of 59.06 in mid-July.
The share of those who believe real estate prices will be higher in 6 months was 42.84%, with 39.81% thinking they will stay the same, and 12.97% expecting a decrease.
The most optimistic region is Quebec (63.02) followed by Ontario (58.88), Atlantic Canada (55.28), BC (54.92), and the Prairies (51.04).
Most age groups showed increased confidence but there was mixed sentiment among income bands.
Both homeowners and renters showed increased optimism overall.