Canadian consumers’ confidence remains subdued but the decline has slowed, except in the Prairies.
The weekly Bloomberg Nanos Canadian Confidence Index was down again for the week ending July 27, 2018, with a reading of 54.73, compared to 54.87 four weeks ago and 54.31 last week.
“Even with the abatement of the decline in consumer confidence on a national basis, consumer confidence in the energy rich Canadian Prairie provinces hit a new 12 month low,” said Nanos Research, Chief Data Scientist, Nik Nanos
While overall confidence increased in most regions, the Prairies provinces showed a continued decline in sentiment with uncertainty surrounding the NAFTA talks weighing.
Nationally, the sub index tracking confidence in job security and personal finances was higher while the expectation for the Canadian economy and real estate prices was lower.
The average index reading for 2018 so far is 57.40 with a January peak of 61.91 and a mid-July low of 54.21.