According to latest findings, the Bloomberg Nanos Canadian Confidence Index slide has stopped after 14 straight weeks of declining consumer confidence
The index, a composite of a weekly measure of financial health and economic expectations, registered at 57.71 as of the week ending April 13, compared with 56.24 four weeks prior. The twelve month high currently stands at 62.17.
The average for the BNCCI since 2008 has been 57.03 with a low of 43.28 in December 2008 and a high of 62.92 in December 2009. The index has averaged 58.32 this year.
Read more: Canadian households’ worries noticeably pull down confidence levels
“Compared to four weeks ago, perceptions related to the future value of real estate, personal finances and the future strength of the economy are up,” Nanos Research Group chairman Nik Nanos said late last week.
“Gains over the past four weeks have been primarily driven by provinces in Western Canada with the Prairie provinces showing a noticeable four week uptick in consumer confidence.”
The Bloomberg Nanos Pocketbook Index is based on survey responses to questions on personal finances and job security. This sub-indice was at 60.17 as of April 13, compared to 58.60 four weeks prior. The Bloomberg Nanos Expectations Index, based on surveys for the outlook for the economy and real estate prices, was at 55.25 last week (compared to 53.88 four weeks prior).