CONSUMER CONFIDENCE AMONG CANADIANS HITS TWO YEAR LOW: NANOS SURVEY

Oct 31, 2022

By Jane Brown

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Consumer confidence in Canada has hit a two year low when it comes to job security, personal finances, real estate value and the future strength of the economy.

Pollster Nik Nanos says the mood is ugly.

“We asked the top thing that Canadians are worried about or concerned about on a national basis,” Nanos explained to CP24, “Jobs and the economy is at the top at 17-percent. It’s up a full 3 percentage points over the last four weeks. Things like healthcare and inflation and the environment are also important. Also what we’re seeing is that worry about housing is on the upswing over the last four weeks.”

Nanos says what this speaks to is a situation where worrying about paying the bills and concern about a potential recession is dominating the way Canadians are feeling these days.

The economic uncertainy comes after a 0.5 percent interest rate hike by the Bank of Canada last week with another one expected in December.

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