The weekly Bloomberg Nanos Canadian Consumer Confidence Index held relatively stable heading into the holiday weekend with a reading of 56.52 (56.66 a week earlier).
But one region of Canada is trailing the nationwide optimism, the energy-rich Prairies, where economic concerns are weighing on sentiment.
“Their index score for consumer confidence remains five to ten points below other regions in Canada and at 49.54 points out of a possible 100 points remains net neutral,” said Nanos Research, Chief Data Scientist, Nik Nanos. “The BNCCI is a diffusion index were scores above 50 indicate consumer sentiment is net positive while those below 50 suggest consumer sentiment is net negative.”
Nationwide, there were improvements for both sub-indexes: one tracking confidence in personal finances and job security; and the other focusing on expectation for the economy and real estate prices over the next 6 months.
Renters were more confidence week-over-week while homeowners’ sentiment declined.