The confidence of Canada’s consumers in the economy fell to its lowest for 12 months in the last week of 2015. The Bloomberg Nanos Canadian Confidence Index fell to 53.77 from 54.54 a week prior. The 2015 average was 55.42.
“After period of economic exuberance following the Canadian federal election we are now entering a period of greater pessimism in terms of the future strength of the Canadian economy,” said Nanos Research Group Chairman Nik Nanos.
Positive ratings dropped for expectations for the overall economy, job security and real estate prices but gained slightly for personal finances including mortgages. Quebec showed the only provincial gain in overall sentiment along with those in their thirties. Renters and homeowners’ groups both showed lower confidence.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: