Confidence in the economy has risen since the new trade agreement with the US and Mexico was agreed.
The weekly Bloomberg/Nanos Canadian Confidence Index hit 59.02 this week, rising from 55.20 four weeks ago and closing in on the 2018 high of 61.91 on January 5.
There was an improvement in both sub-indexes. The one covering job security and personal finances was up less than 1 point but the one covering expectations for the economy and real estate prices was up by almost 5 points compared to 4 weeks ago.
“Consumer confidence is up in all regions of the country compared to four weeks ago,” said Nanos Research, Chief Data Scientist, Nik Nanos.
Confidence in the future strength of the Canadian economy stood at 12.47% before the USMCA deal while currently it stands at 21.02.
Homeowners’ confidence gained this week compared to last week while renters confidence slipped.