Slow economic growth and discouraging employment prospects, offset slightly by a small increase in stock market indices, have kept consumer confidence low across Canada, according to a TNS report released November 6.
The Canadian Consumer confidence Index, which tracks attitudes about the economy each month, grew slightly in October to 93.7 from 93.3 in September but remained well below the summer high of 97.7.
The Present Situation Index, which measures how Canadians feel about the economy right now, has recovered from a sharp dip experienced in August and September and has bounced back to net out to approximately the same level over the year.
"The economy has taken a back seat in the media in recent weeks, and we can also point to this as a reason that consumer confidence tends to gyrate," said Norman Baillie-David, senior vice-president of TNS in Canada.
"The recent large upswing in the Present Situation Index tends to coincide with the signing of the Comprehensive Trade Agreement with Europe, even though no tangible benefits are yet to be seen for years to come."
TNS releases Canada-wide consumer confidence data monthly. Provincial numbers are broken out quarterly, and will be available in January.
