The weekly index of Canadian consumer confidence from Bloomberg/Nanos is at a two-year low, down to 52.31 last week from 53.41 a week earlier. The 2015 average is 55.56. Robert Lawrie and Peter Savvin from Bloomberg Economics commented: “Projections for the coming recovery have been pushed back a bit more by the Bank of Canada. Oil prices are down 52% since a year ago, while the demand for Canadian non-energy exports has not recovered to the extent that the 17% drop in the value of the Canadian dollar (versus the US dollar) might otherwise suggest.”
Positive sentiment was lower in all four metrics; personal finances, job security, the economy, real estate prices. The proportion who believe that property prices will be higher is 6 months slipped to 32.31 per cent. The fall in confidence is widespread across provinces, age groups and income brackets (only those earning $15,000-29,999 were more optimistic) while renters showed slightly increased optimism compared to homeowners.
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