Consumer confidence still edging higher
, increasing to 55.37 from 55.04 a week earlier; the 2015 average is 55.12 while the year’s high so far was 56.82 in the week following the cut in interest rates. Although confidence in the overall economy dipped slightly, the sub indexes on job security and personal finances grew. Confidence in real estate is also up, rising to 36.85 from 35.64 and well above the year’s average so far of 33 per cent. Asked where they believe house prices will be in 6 months; 36.85 per cent said higher, 18.48 per cent said lower and 41.25 per cent said they would be the same.
Job security and real estate prices are two key elements of consumer confidence that are trending higher according to weekly figures from Bloomberg/Nanos Research. The Canadian Confidence Index continued its upward trajectory in the week ended April 10