Consumer confidence hits 12-month low
Confidence in the economy continues to slide according to the latest Bloomberg Nanos Canadian Confidence Index. The index fell to 53.83 last week compared to 54.15 a week earlier and below the average of 55.42 for the year so far. On the economy as a whole there was a slight rise in optimism that things will be better in six months than they are now but the outlook of respondents is weaker on their personal finances and job security. Data for confidence in real estate prices improved slightly and remains above the average for this year so far with 33.42 per cent believing that home prices will be higher in six months; 20.06 per cent think they will be lower while 43.95 per cent are expecting them to remain the same. Confidence is highest in Ontario and BC and lowest in the Prairies.