Confidence in economy higher in all regions in May, says Conference Board of Canada
Ottawa, ON -- The Conference Board of Canada’s Index of Consumer Confidence surged in May 2012, rising 5.8 points to 80.8 (2002 = 100) and completely reversing last month’s relatively poor performance.
Ottawa, ON — The Conference Board of Canada’s Index of Consumer Confidence surged in May 2012, rising 5.8 points to 80.8 (2002 = 100) and completely reversing last month’s relatively poor performance.
The balance of opinion improved on all four questions, but positive sentiment was most prominent on the financial and major purchases questions. Even more encouraging is the fact that confidence was higher in all regions this month (although the gain in British Columbia registered as statistically insignificant).
However, despite recording an increase in four of the first five months of 2012, the national index remains significantly below where it was at this time last year—again highlighting the challenges the Canadian economy still faces going forward.
For a second month in a row, Quebec’s regional index registered the strongest performance and is now at 75.3, its highest level in a year. Although Ontario’s index is still the lowest in the country, it improved by more than seven points in May. At 109.1, confidence among consumers in the Prairie provinces remains well above that of other regions. The index in Atlantic Canada rose 5.4 points to 74.6.
This month’s survey was conducted between May 3 and May 14, 2012. The margin of error is plus or minus 2.2%.