Canadian consumers’ confidence in the Canadian economy has held relatively stable for the week ending June 26th
according to data from Bloomberg and Nanos Research. The main index of the weekly poll shows that there was a slight increase to 56.81 from 56.61 a week earlier and reveals that the housing market is the main reason for the optimism: “Real estate remains the one positive driver of consumer sentiment in Canada,” said Nanos Research Group Chairman Nik Nanos. “Any negative changes in the real estate market would have a material downward impact on the confidence in the Canadian economy.”
The sub index on real estate prices and the economy as a whole increased slightly despite the percentage of those polled who expect higher home prices in 6 months slipping to 36.97 from 37.25. Positive sentiment in the economy and personal finances also declined while job security optimism grew. Consumer confidence was highest among renters.
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