The decline in confidence among Canadian consumers continued last week according to the Bloomberg/Nanos Canadian Consumer Confidence Index. It fell to a new 2016 low of 52.31 from 53.01 a week earlier. Although the sub-index on personal finances (including mortgages) and job security slightly improved, the sub-index on expectations for the overall economy and for house prices was lower. Positive expectations for real estate prices fell to 29.38; the average over the period 2008-2016 is 36.02.
Confidence was lower across all age groups, most income brackets and both renters and homeowners. Ontario was the only province where confidence increased although it is still below the 12-month average.
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