Canadian consumers have again lost faith that the economy is improving.
Consumer confidence fell in September after a relatively strong boost in August, according to TNS Canadian Facts. Its consumer confidence index fell 2.3 points to 94.8 from 97.1, bringing it back to similar levels recorded in July.
TNS’ expectations index, which measures consumers’ estimation of the economy, household income and employment over the next six months fell 3.5 points to 102.3 from 105.8 in August. Likewise, the buy index, which gauges the degree to which people think now is a good time to make major purchase, fell 2.6 points to 90.8.
The present situation index, which measures the overall state of the current economy and employment, also fell.
Michael Antecol, vice-president of TNS Canada said, “It doesn’t seem that government stimulus efforts have done the trick when it comes to increasing, or even stabilizing, consumer confidence.”