People are remaining optimistic but significant challenges remain for household budgets
Canadians are remaining generally optimistic that the economy will be resilient to multiple headwinds but there are clear concerns about personal finances.
The weekly Blomberg Nanos Canadian Confidence Index ticked higher last week and remained in positive territory – reading 52.28 compared to 52.09 four weeks ago – although some way behind the 12-month high of 53.12.
On personal finances, positivity weakened week-over-week, dropping below the 5-year average, but was higher than four weeks ago. However, respondents are almost three times as likely to say they are worse off currently than to say they are better off.
Bright spots are positive sentiment around real estate with three times as many respondents expecting prices to rise than to fall; and job security where most Canadians believe their job is at least somewhat secure.
Overall sentiment is highest among those in Quebec, those aged 30-39, and the highest income earners ($70K+) while lowest sentiment is among those in Atlantic Canada, 40–49-year-olds, and those earning $15,000-29,999.
Homeowners are slightly more positive overall compared to renters.
