Consumer confidence slips despite data

Consumer confidence slips despite data

Consumer confidence slips despite data Data showing optimistic trends for the Canadian economy has done little to boost the confidence of consumers according to the latest Bloomberg/Nanos index.

The overall figure slipped to 56.25 for the week ending Jan. 13, from 56.50 a week earlier and the sub-index on the economy and real estate prices was down to 52.72 from 53.47.

Optimism on personal finances including mortgages, and job security, was higher.

“The two-week dip in Canadian household expectations seems a bit at odds with the latest data releases -- which include positive surprises in trade, the housing market and the labour market -- and the recent Bank of Canada business survey that indicates increased investment intentions and further employment opportunities,” said Bloomberg economist Robert Lawrie. “This disconnect might suggest households’ growing impatience with the speed of the fiscal stimulus as well as increased uncertainty during the formation of the new U.S. administration.”

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