Consumers are confident but worry about job security

by Steve Randall29 Aug 2018

There has been a small rise in the weekly Canadian Consumer Confidence Index but it has also highlighted a concern.

The Bloomberg/Nanos Research poll edge higher to 56.66 for the week ending August 24, 2018, compared to 56.58 a week earlier. It stands well above the 54.73 posted four weeks ago.

But while the sub-indexes on personal finances and job security; and the outlook for the economy and real estate prices; were both higher, there was a clear concern.

“Of note, perceptions on job security are somewhat of an outlier – views on job security have declined over the past four weeks, concurrent with the malaise on the Canada US NAFTA talks as the US pursues active negotiations with Mexico without Canada,” said Nanos Research, Chief Data Scientist, Nik Nanos.

Most provinces showed increased confidence overall, apart from those in Atlantic Canada, and most age groups and income bands also saw a rise in confidence.

However, while homeowner confidence increased, renters’ confidence weakened.

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