Canadians’ optimism about the economy has dropped to just 25%, according to an Economic Club of Canada/Pollara Strategic Insights poll conducted in December.
This most recent online poll shows a decline over the previous two annual polls, where a December 2010 poll registered 36% economic optimism and a December 2009 poll identified 54% economic optimism.
The most recent poll found that 70% of respondents now believe Canada is already in a mild recession.
“This is the most pessimism we’ve seen, except for briefly in 2008, since 1996,” Michael Marzolini, chairman of Pollara Strategic Insights, said in a press release.
“Canadians not only believe we’re now in a recession, but expectations for the length of the recession are longer than they were in any year since 2008.”
The poll found that 54% of Canadians expect the U.S. economy to worsen and 63% expect the global economy to worsen over the next year. It also found that 41% of Canadians are expecting the value of their stock to drop in 2012, versus 27% holding that believe a year ago.
Jenny Wagler
@JennyWagler_BIV