Confidence drops to 9-month low but house prices expected to rise
The weekly Bloomberg Nanos Canadian Confidence Index has fallen again to a 9-month low. Optimism about job security and personal finances were among the factors weighing heavily on the concerns of consumers as the index fell to 57.4; the 12-month average is 58.8. The sub-index of real estate prices showed better sentiment, at least for homeowners, as those believing that house prices will increase in the next six months rose to 38.4 from 37.2 a week earlier although this is still below the average of 40.3 this year. There was also increased positivity in the number feeling that they are better off this year than in the past.