Canadian consumer confidence lifts to 12-month high

Canadian consumer confidence lifts to 12-month high

Canadian consumer confidence lifts to 12-month high

Despite some mixed economic data, Canadian consumers are feeling more confident than they have done recently.

The weekly Bloomberg Nanos Canadian Confidence Index reached a 12-month high of 58.75 in the week ending July 5, 2019; up from 58.30 a week earlier, 56.39 4 weeks earlier, and well above the 2019 average so far of 55.51.

The sub-indexes also tracked higher with the measure of personal finances and job security at 61.69 (up from 59.08 4 weeks earlier) and the expectations index for the economy and real estate rising to 55.81 (from 53.71 4 weeks earlier).

Regionally, all but Atlantic Canada showed improved sentiment, while most age and income groups also moved higher, although the youngest Canadian adults and low-income earners were slightly less confident overall than they were a week earlier.

Both owners and renters were more confident week-over-week.

Real estate prices

Asked about real estate prices in their neighbourhood, 41.86% of respondents expect them to be higher in 6 months, 40.42% expect them to be the same, and 13.72% expect a decrease.

The survey is a weekly random telephone poll of 1,000 Canadians.