Despite many positives in the Canadian economy and consumers’ own personal circumstances overall Canadian confidence declined last week.
The weekly Bloomberg Nanos Canadian confidence index declined mainly due to a continuing slide in optimism surrounding the future value of real estate.
“In addition to the months-long drop in the outlook for real estate values, there has been a sharp two-week drop in household sentiment regarding personal finances. To the extent that consumer sentiment has been able to signal the direction of final household consumption, this reassessment -- if sustained -- could have implications for overall growth in coming quarters”, said Bloomberg economist Robert Lawrie.
Having reached a 2017 high of 61.19 on August 11, the index has slipped over the following weeks to 59.68 in the week ending August 25.
Positive ratings in all four key measures - personal finances including mortgages, Canadian economy, job security and real estate - were all lower.
Only Atlantic Canada saw an increase in the overall economic mood while British Columbia and Quebec saw the largest decreases.
The weekly Bloomberg Nanos Canadian confidence index declined mainly due to a continuing slide in optimism surrounding the future value of real estate.
“In addition to the months-long drop in the outlook for real estate values, there has been a sharp two-week drop in household sentiment regarding personal finances. To the extent that consumer sentiment has been able to signal the direction of final household consumption, this reassessment -- if sustained -- could have implications for overall growth in coming quarters”, said Bloomberg economist Robert Lawrie.
Having reached a 2017 high of 61.19 on August 11, the index has slipped over the following weeks to 59.68 in the week ending August 25.
Positive ratings in all four key measures - personal finances including mortgages, Canadian economy, job security and real estate - were all lower.
Only Atlantic Canada saw an increase in the overall economic mood while British Columbia and Quebec saw the largest decreases.
