Decline In Consumer Confidence Regardless Of Pleasing Data

Based on the recent index by Bloomberg/Nanos, although it proved to be a positive trend for the Canadian economy, it however had little to no impact on the confidence of consumers.

For the ending week of Jan. 13, the total numbers went down to 56.25 from its previous 56.50 a week before. A decline from 53.47 to 52.72 in the sub-index on the economy and real estate prices. The optimism for mortgages, personal finances and job security also went up.

An economist for Bloomberg, Robert Lawrie commented; “The two-week dip in Canadian household expectations seems a bit at odds with the latest data releases — which include positive surprises in trade, the housing market and the labour market — and the recent Bank of Canada business survey that indicates increased investment intentions and further employment opportunities. This disconnect might suggest households’ growing impatience with the speed of the fiscal stimulus as well as increased uncertainty during the formation of the new U.S. administration.”