Canadians were more confident in the economy, job security and their personal finances including mortgages last week.
However, expectation that house prices will continue to rise weakened, the only sub-sector of the Bloomberg/Nanos Canadian Confidence Index to decline.
“While the normalization of interest rates is likely to have a negative impact on household balance sheets, a stronger C$ could be perceived as another sign of a healthier economy. And the upswing in consumer sentiment relating to personal finances and job security and the concurrent increase in consumer spending is more likely due to perceptions of increased employment opportunities”, said Bloomberg economist Robert Lawrie.
The 60.45 score for the index is a 2017 high.