Pessimism about job prospects hurts consumer confidence in Ontario
Ottawa – The Conference Board of Canada’s Index of Consumer Confidence fell 4.1 points in July 2015 to 98.6 (2014 = 100). This drop wipes out half of the gains recorded in the previous two months. The national index trended upward over 2012 and the first half of 2013, but has seen no improvement since.
Regionally, consumer confidence deteriorated everywhere this month except Quebec and Atlantic Canada. Quebec’s index increased 2.6 points, offsetting part of the decline recorded in June. Atlantic Canada’s index increased 6 points, representing a second consecutive gain. Yet the region’s index is still far below its January peak (a peak that was likely reached thanks to the drop in gasoline prices).
Ontario’s index fell 6.9 points. Relative to June, the balance of opinion fell on all four questions. The province’s index had been on an upward trend that started in the second half of 2012, yet pessimism about future job prospects has softened this trend in recent months.