New poll results indicate improved confidence
Canadians are becoming less pessimistic towards their economic and financial prospects, according to a new poll by Bloomberg and Nanos Research.
The weekly composite Bloomberg Nanos Canadian Confidence Index registered at 45.87 as of the week ending January 6, versus the 44.38 reading four weeks prior. The 12-month high currently stands at 59.88.
“Consumer confidence continues to incrementally move towards a neutral score of 50 on the 100-point diffusion scale that makes up the Bloomberg Nanos Canadian Confidence Index,” said Nik Nanos, chief data scientist at Nanos Research.
The share of Canadians expecting a stronger national economy over the next half-year significantly improved from 11.36% four weeks prior to 12.09%. However, despite this recovery, more than half of respondents (54.73%) are still bracing themselves for a sluggish economic environment, while 27.53% indicated a belief that the economy will remain stagnant during this period.
On the other hand, the share of respondents expecting an increase in home prices in their neighbourhoods during the next six months weakened from 22.04% to 21.62% last week. Nearly two in five Canadians (39.91%) are anticipating steady prices, while 34.5% are preparing for price declines.
