New poll reveals Canadians' sentiments
Canadian consumer confidence saw incremental improvements towards the end of 2022, according to the latest survey by Bloomberg and Nanos Research.
The Bloomberg-Nanos Canadian Confidence Index for the week ending December 16 registered at 45.02, markedly higher than the 42.68 four weeks prior but still lagging the 12-month high of 59.88.
“Overall Canadian consumer confidence remains net negative with a score under 50 on the 100-point diffusion index,” said Nik Nanos, chief data scientist at Nanos Research.
The sub-index on personal finances and job security was at 14.36 compared to 13.50 four weeks prior. Meanwhile, the sub-index on the outlook for the economy and real estate prices was at 12.50 and 23.34 (respectively), compared to 9.89 and 21.46 four weeks ago.
The share of respondents expecting an increase in home prices in their neighbourhoods over the next six months went up to 23.34%, from 22.04% the week prior. Another 38.23% are anticipating steady prices, while a substantial 35.62% share are preparing themselves for price declines.
