Three-month slide in economy fears ends

A weekly survey of Canadian economic sentiment has been in decline since November but new figures show an improvement. The Bloomberg/Nanos Canadian Confidence Index increased in the week ending Feb.19. to 53.47, compared to 52.13 a week earlier.

“Although still hovering near their 12 month low, consumer confidence in both the Prairies and Ontario increased this week,” said Nanos Research Group Chairman Nik Nanos. “This will have to be monitored to see if a new trend emerges with the successive weeks of tracking.”

While the sub-index on job security and personal finances including mortgages was little changed; the sub-index on real estate prices and the economy improved by almost 3 points. The improved sentiment was broadly seen across age groups, most income brackets and both homeowners and renters.

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