Real Estate Causes Growth In Job To Remain Slow

The confidence of the Canadian consumers is being questioned with the rising concern of the sustainability of the real estate prices, although there are signs of growth in the additional economic metrics and the labor market as well.

During last week, the Bloomberg/Nanos Canadian Confidence Index went down to 55.60 (way below the one-year high index of 59.93), from its previous 55.82 which was the index the week before.

The sub-index was leveled in the area of personal finances which also includes mortgages and job security, while the economy’s sub-index together with the prices of the real estate went down to 52.92 from the previous 53.36.

Nik Nanos, the Group Chairman of Nanos Research commented; “Forward-looking consumer confidence slid and perceptions of real estate increasing have hit an eight-month low with particular impact in the province of British Columbia.”