Regional disparities continue in consumer confidence index
Ottawa, ON -- Consumer confidence fell in both Ontario and Quebec in November 2006, and sentiment among central Can...
Ottawa, ON — Consumer confidence fell in both Ontario and Quebec in November 2006, and sentiment among central Canadians remains well below that of western consumers, according to the Conference Board’s Index of Consumer Confidence – November 2006.
“The ongoing economic disparities between the regions may be reflected in the consumer confidence trends over the past year,” said Pedro Antunes, director, national and provincial forecast. “Buoyed by a strong resource economy, confidence is well above the national average in the Prairies.”
Confidence fell by 3.7 points in Ontario and by 2.8 points in Quebec in November — for Quebec, it was the second consecutive monthly decline. Confidence barely moved last month in the Prairies, British Columbia and Atlantic Canada.
Overall, a modest decline of two points in November pushed the Index to 119.0, its lowest level this year. Consumers responding to the November survey felt their families were worse off financially now than they were six months ago, and they said they were less likely to make major purchases than respondents to the October survey.
Despite the small dip in overall confidence, however, sentiment among respondents about future job prospects improved last month. “When optimism about job prospects is combined with solid growth in retail spending, consumers should be upbeat heading into the holiday shopping season,” said Antunes.
The survey of 2,000 Canadians was conducted between November 1 and 6, 2006.