Canadians concern over the economy rises
Two separate reports show the level of rising concern among Canadians about the state of the economy. Toronto advertising agency Bensimon Byrne reports that 55 per cent of respondents to its poll think the economy is in decline. The agency carries out the survey quarterly and this is the first time it has been largely negative since 2009. When asked about the cost of living 90 per cent felt it was outpacing income. Meanwhile the weekly Canadian Confidence Index from Bloomberg/Nanos fell again for last week to 53.63 (from 53.84 a week earlier), further below the 55.22 average for the year so far. Although there was a marginal increase in those who felt the economy as a whole would be stronger in 6 months, the levels of confidence in personal finances, job security and real estate prices were reduced. The majority of respondents feel that home prices will be roughly the same in six months time as they are now.