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Confidence in economy rebounds slightly in October, except in Ontario

Ottawa, ON -- Canadian consumer confidence edged up in October from its lowest level since 2001, according to The ...


Ottawa, ON — Canadian consumer confidence edged up in October from its lowest level since 2001, according to The Conference Board of Canada’s Index of Consumer Confidence — October 2005.

The Index rose by 3 points to 111, reversing the 10-point plunge in September.

“Although consumer optimism improved in October, we expected a stronger rebound from the low level in September’s survey,” said Pedro Antunes, director of economic forecasting. “These results indicate that high energy prices are still impacting confidence, and may weaken overall spending.”

Nationally, all four components of the Index improved. Confidence rebounded in every region except Ontario, where the Index declined by a further five points, its third consecutive monthly decline. The Atlantic region experienced the biggest rebound, increasing 17 points. The Index rose by eight points in Quebec, seven points in the Prairie region, and six points in British Columbia.

The survey was conducted between October 6 and October 13.