Canadian consumer confidence holds steady
Canadian consumer confidence remained stable in the latest quarter according to the Harris/Decima-Investors Group consumer confidence index. The index currently stands at 79.1, compared to 79.0 in May.
Canadian consumers are also more confident than consumers in the United States. The US index fell from 79.3 in May to 74.3 this quarter.
According to Senior Vice-President Doug Anderson; “Over the past 18 months, consumer confidence has been less volatile in Canada than in the United States. While confidence has not improved in Canada, there appears to be more of a "wait and see" mindset with fewer people willing to indicate either optimistic or pessimistic outlooks”.
“Canadian consumers continue to demonstrate a positive outlook regarding their longer term economic outcomes,” said Aaron Margolis, Vice-President, Product Utilization & Planning . “Ongoing confidence, in spite of near term uncertainty, is a tribute to the consistency of the Canadian economy and the resilience of consumers.”
- In total, 24% of Canadians believe they will be better off financially a year from now. Conversely, 14% feel they will be worse off a year from now. This split has remained relatively consistent since last November. In May, this split was 25%-15%.
- Nationally, 14% of Canadians see good times ahead for the economy in the next twelve months. Conversely, 19% see bad times over this same period. Again, this measure has stayed exceptionally consistent in the last quarter. In May, it was 15%-19%.
- More than four in ten (47%) believe there will be good times financially for the Canadian economy in the next 5 years, while 39% believe there will be unemployment and recession over this period. In May, this split was 46%-41%.
- Almost half (47%) feel now is a good time to make a major purchase. Conversely, 36% feel it is a bad time to make such a purchase.
- Almost one in five (18%) feel that are better off compared to a year ago, while 21% feel they are worse off. In May, this split was 19%-25%.
|Better off a year from now||Worse off a year from now|
|One year outlook||24%||14%|
|Good times||Bad times|
|1 year economic outlook||14%||19%|
|Good times||Bad times|
|5 year economic outlook||47%||39%|
|Good time||Bad time|
|Making a purchase||47%||36%|
|Better off than a year ago||Worse off than a year ago|
|Compared to one yr ago||18%||21%|
These data were gathered through teleVox, the company’s national telephone omnibus survey for two weeks from August 23 and September 2, 2012 just over 2,000 completes. A sample of the same size has a margin of error of 2.2%, 19 times out of 20.