Consumer confidence continues to rise

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Canadian consumers are increasingly confident in the economy especially on job security. The weekly Bloomberg Nanos Canadian Confidence Index has been rising steadily over recent weeks and for the week to May 1 was nudging closer to the 2015 high achieved at the time of the interest rate cut. When the sub-indexes are examined there are some areas that have lower sentiment; personal finances slipped back slightly but are still above the average for 2008-15; the economy overall is also slightly lower along with real estate. Job security is higher and exceeds both the multi-year average and the high for this year so far.

When asked about real estate prices 37.79 per cent believe they will rise in the next six months with 15.03 per cent expecting a fall and 44.67 per cent not forecasting a change. Optimism has increased across all provinces with those aged 30-49 most positive. Renters are more confident in the economy than those with mortgages although confidence is rising for both. 

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