The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
Consumer confidence has turned upward in Canada and expectations about economic conditions in the future have also strengthened according to the latest results of the quarterly Decima-Investors Group Index of Canadian Consumer Confidence survey. Based on a nation-wide survey conducted by Decima Research Inc. in August, the Decima-Investors Group Index of Canadian Consumer Confidence now stands at 87.6, up 8.1 points since May and returning to levels recorded in February of this year. In the United States, the Index of Consumer Sentiment published by the University of Michigan stands at 95.9 (this measure is directly comparable to the Decima-Investors Group Index). The US index is up 5.7 points, from 90.2 in May. Confidence is up in all regions of Canada this quarter, with the largest increases observed in Quebec (up 11.9 points from May) and Alberta (up 8.9 points). "Many of the uncertainties from earlier in the year have been largely resolved; with the Canadian election behind us, the ongoing debate about a possible interest rate hike now over, and gasoline prices moving off their highs" said Bill Chornous, Partner at Investors Group "Additionally, the Canadian economy roared ahead of other global economies in the second quarter, in turn creating the kind of climate that both markets and consumers alike have benefited from." Consumer Expectations There has also been a substantial rise in consumer expectations about economic conditions into the future (over the next year and beyond). The consumer expectations sub-index (one of two components comprising the overall index), has increased 10.3 points since May, and now stands at 83.4 in Canada. Consumer expectations are also up in the US this quarter, although not to the same extent as in Canada. The US expectations index now stands at 88.2, up 6.6 points since May, and is still 4.5 points higher than the comparable Canadian figure.
