Confidence in real estate, economy weaker than a month ago

by Steve Randall31 May 2018

Consumers in the Prairies continue to be less optimistic about the economy and their financial health according to a weekly survey.

The Bloomberg Nanos Canadian Confidence Index was 57.21 this week compared to 58.00 a week earlier and 57.87 four weeks ago.

Breaking out the data on expectations for real estate prices and the economy, the sub-index was down from 60.16 four weeks ago to 59.34 this week.

“Canada’s energy rich Prairie provinces remain laggards in consumer confidence,” said Nanos Research Group Chairman Nik Nanos. “Consumer confidence in the Prairie provinces is at 51.93 points on the BNCCI which is a diffusion scale of 100 points where 50 points is a neutral score. This compares to the Prairie’s provinces neighbour – British Columbia which registered the highest consumer confidence at 61.60 points.”

Overall confidence was lower this week among both renters and homeowners; and across most age and income demographics.

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