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Trade News

Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.


Canadians Upbeat on the Economy

Friday, January 06, 2012 > 10:55:00

(CBC News – The Canadian Press)

A new CIBC poll shows 64% of Canadians feel positive about their current financial situation, a finding the bank describes as strong by still five percent lower than a year ago.

The poll, conducted for the bank in mid-November by Harris/Decima, also found that an even higher number of Canadians — 72% were confident they would reach their future financial goals, unchanged from last year.

Across age groups, confidence in achieving financial goals was generally strong, although there was a declining trend with age. For example, among Canadians aged 18 to 34, 78% said they were confident of reaching their financial goals.  However, among Canadians closer to retirement — those 55 to 64 — only 68% felt their goals were achievable.

Responses also varied by province, with those feeling good about meeting future goals running from a high of 85% in Alberta to a low of 60% in Quebec.  And among those happy with their current financial situation, positive responses ran from a high of 72%, also in Alberta, to a low of 54% in British Columbia.

"Canadians are entering 2012 with a generally positive outlook on their finances, although they are somewhat less positive about their current financial situation than they were a year ago," said Christina Kramer, executive vice-president, retail distribution and channel strategy at CIBC.  "(Still) it's encouraging to see more Canadians recognizing the importance of setting financial goals for themselves and a strong level of confidence in achieving those goals," Kramer said.

The poll, conducted by Harris/Decima, surveyed 2,015 people and is considered accurate with a margin of plus or minus 2.2 percentage points 19 times out of 20.

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