New poll shows a sharp drop in consumer confidence
What a difference a year makes. A new survey by the Economic Club of Canada and Pollara shows a year-over-year drop of 16 per cent in the number of Canadians who think the economy will improve, and a 14 per cent increase in the number of those who feel it will get worse. Concerns about the U.S. economy, the cost of living, and the national deficit are chief among the factors that have shaken consumer confidence. Pollara’s chairman, Michael Marzolini, said “Canadians were feeling overly bullish on economic recovery this time last year,” but that economic conditions around the world could not meet these expectations.