Consumer confidence tumbled in February in most of Canada, except Quebec
Ottawa – The Conference Board of Canada’s Index of Consumer Confidence fell 11.4 points to 95.6 in February 2015. The results showed Canadian’s deteriorating confidence about their current and future financial situations, their willingness to make a major purchase, and, in particular, about future job prospects in their region.
The share of respondents expecting fewer jobs going forward jumped in February, going from 30% to 39.6%. At the same time, the proportion of respondents expecting more jobs fell from 9.7% to 7.7% in February. The increased pessimism about the state of the job market was most evident in Ontario, the Saskatchewan-Manitoba region, and Alberta.
Respondents were also more pessimistic about whether this is a good time to make a major purchase. Indeed, the share of respondents saying it is a bad time to do so increased in February from 38.8% to 42.8%. The increase in pessimism was greatest in Atlantic Canada, Ontario, Alberta and British Columbia. Quebec and the Saskatchewan-Manitoba region, on the other hand, saw an improvement in the balance of opinion for this question.
Almost all provincial indexes posted a decline in February. Quebec was the only exception, with its index posting a gain of 3.5 points, due mainly to improved responses to the major purchases question. Ontario, Atlantic Canada, and Alberta recorded the steepest declines in their indexes.
This survey was conducted between February 2 and February 13, 2015.