Consumer confidence continues to fall despite lower interest rates
The lower interest rates haven’t done anything to curb fears over the economy; in fact they may have made things worse. The newly-release Canadian Confidence Index from Nanos Research shows that the percentage of respondents who expect the economy to weaken over the next six months has hit its highest rate since 2009 at 41.9 per cent. That figure for last week is up more than 5 per cent from the week earlier. For house prices the index reveals that the gap between those expecting higher prices in six months (down to 31.2 per cent) and those expecting them to be lower (up to 17.2 per cent) has narrowed.