As Canadians await the announcement of the federal budget, consumer confidence across Canada has increased slightly in March but remains below average, according to a TNS report released this morning.
The Canadian Consumer Confidence Index increased to 96.5 in March, up one point from February (95.5) but still well below January (99.1).
“March’s results are showing that Canadians have mixed feelings,” said Norman Baillie-David, senior vice-president of TNS in Canada. “They’re feeling better about their situation right now, but aren’t sure about what’s coming down the pipe, which makes the contents of today’s federal budget all the more important.
“Many of those who felt very pessimistic last month, bringing the index down, have taken a deep breath and seen February’s bad economic news hasn’t affected them personally all that much, but they’re reserving judgement for the future.”
Baillie-David said that March’s slight increase is more indicative of a “collective uncertainty” about what will happen next, as opposed to optimism.
