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Canadian consumer confidence stays 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 79.0, compared to 79.1 in August.

According to Senior Vice-President Doug Anderson, “Over the past few quarters, Canadian consumer confidence has been the model of consistency, but when you look at what Canadians felt at this time last year, you see that there have been some changes worth noting. Perhaps most importantly, pessimism is much lower today and has been in fairly steady decline over the past 12 months.”

“Canadian consumers appear to have a firm view of their economic environment,” said Jack Courtney, Vice-President, High Net Worth Planning, at Investors Group. “This steady viewpoint bodes well for Canadians’ long term financial planning, saving and investing efforts.”

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  • Overall, 24% of Canadians believe they will be better off financially a year from now. Conversely, 13% feel they will be worse off a year from now. This split has remained relatively consistent since last November. In August, this split was 24%-14%.
  • Nationally, 80% of Canadians are either positive (13 %) or neutral (67%) about prospects for the economy in the next twelve months. Conversely, 20% see bad times over this same period. Again, this measure has stayed exceptionally consistent in the last quarter. In August, it was 14% positive, 67 % neutral and 19% pessimistic.
  • More than four in ten (47%) believe there will be good times financially for the Canadian economy in the next 5 years, while 38% believe there will be unemployment and recession over this period. In August, this split was 47%-39%.
  • Almost half (46%) feel now is a good time to make a major purchase. Conversely, 35% 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 22% feel they are worse off. In August, this split was 18%-21%.

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Better off a year from now Worse off a year from now
One year outlook 24% 13%
Good times Bad times
1 year economic outlook 13% 20%
Good times Bad times
5 year economic outlook 47% 38%
Good time Bad time
Making a purchase 46% 35%
Better off than a year ago Worse off than a year ago
Compared to one yr ago 18% 22%

These data were gathered through teleVox, the company’s national telephone omnibus survey for two weeks from November 22 and December 3, 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.