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Canadian Consumers' Economic Confidence up in September: Conference BoardWednesday, October 02, 2013 > 14:09:13
A monthly measure of Canadian consumer confidence hit its highest level since 2010, although it remains below what could be described as "optimistic."
The Conference Board of Canada said Monday its index, based on interviews early in September, rose 6.2 points to 91.
The Ottawa-based think-tank says British Columbia was a driving force but all regions across Canada showed improved overall consumer confidence since August.
"Although consumer confidence remains well below levels we would characterize as 'optimistic,' this month's survey results do show that consumers are considerably more positive with respect to their financial positions and the outlook for future job creation," the Conference Board said.
Among other things, those questioned between Sept. 5 and 17 were more optimistic about their current and future finances. Overall those surveyed were pessimistic about their future job situation, although negative responses fell 4.9 points to 18.8% and positive responses increased 1.8 points to 15%.
There were also fewer people who said it was a good time to make a major purchase, with only 43.6% of respondents saying yes – a decline of 2.7 percentage points.
Another measure of consumer confidence released Monday, the Bloomberg Nanos Canadian Confidence Index, registered 59.75. The new weekly measure set a 2-1/2 year high based historical data, but lower than it would have been in December 2009.