Confidence Index Spike For Canadians

At the latter part of last year, the confidence rate for most Canadians in terms of personal finances, real estate market, economy, and personal finances went up. The year ended with the Bloomberg/Nanos Canadian Confidence Index concluding at 56.82 which was a higher from the previous week and surpassed sentiment at the closing of 2015. Positively, all four measures saw an incline.

The Bloomberg economist, Robert Lawrie expatiated; “There were reasons for the various segments of consumers to become more optimistic at the end of the year. Asset prices increased, with oil rebounding by 45% and the stock market moving up 18% in 2016, all while the housing boom continued.”

In the closing of 2016, the optimist for personal finances together with mortgages way above the year’s average, however, the anticipation of prices in the housing markets was far less than the average.

Apart from British Columbia which saw the price of homes easing in the recent months, other provinces experienced an incline in confidence. Robert mentioned the economy should be bound to face some challenges in the coming months as it strives for a changeover to a revolution base. Lawrie said; “Still to be considered is the persistent slack in the labor market and formulation of policies for those that might be left behind during that transition.”