Canadian consumer confidence falls for third month in a row
Ottawa – The Conference Board of Canada’s Index of Consumer Confidence fell 1.4 points in September to 90.6. This marks the third consecutive decline for the index, which is now at its lowest point this year.
Relative to August, survey respondents were more negative about their current financial situation. The share of respondents who said they were financially better off now than six months ago fell slightly from 16.8% to 16.5%. Meanwhile, the share who said they were worse off increased from 25% to 28.1%. The increased negativity was felt in Ontario, Quebec, and Alberta.
Respondents’ willingness to make a major purchase deteriorated for a third month in a row in September. The share of respondents who said it is a bad time to do so increased from 43.9% to 45.5%, leading to a deterioration in the balance of opinion. The increase in pessimism came from the two largest provinces — Ontario and Quebec.
Consumer confidence deteriorated in Quebec, Ontario, and Alberta, but it improved in Atlantic Canada, Saskatchewan-Manitoba, and British Columbia.