Consumer confidence hits a post-recession low
The latest survey data shows Canadians’ confidence in the economy remains fragile. TNS Canada’s consumer confidence index rose 1.5 points to 96.3 this month, but those surveyed said the current poor economic environment is colouring their look to the future. “Canadians keep cautiously testing the economic waters with one foot then the other. But they don’t seem ready to commit, not quite yet,” said Michael Antecol, vice-president of the research group. The group’s Present Situation Index, which looks at the economic and employment environment, was down 0.7 points to 91.4 in October. Though its Expectations Index, which measures consumers’ outlook for the next six months, rose two points to 104.3 in October, TNS said that it’s “an amount still not enough to offset September’s 3.5-point drop.” Optimism is also on the decline, according to the Nanos Economic Mood Index.