Increase of consumer confidence index

StumbleUpon 0 Like 0 Retweet 0

December 26, 2009

Positive by Olivier Bareau

According to Conference Board of Canada, positive expectations about employment and household income helped to increase the consumer confidence index in the country. The December index rose by 3.7 points from November and 26.2 points from January 2009 up to 82.8 points.

As for regions of the country, the biggest increase of the consumer confidence index, by 10.8 percentage points occurred in Atlantic Canada. Ontario was the second, with 7.5 points rise. On the other hand, indexes decreased in British Columbia and Quebec. In the words of Pedro Antunes, the director of Canada’s Conference Board, these numbers mean that consumers are finally beginning to feel more confident that the economy is healing from recession and is on a right track.

Antunes is right, and this is a positive sign. People seem to be recovering their trust in the economy very well after the crisis. After few indicators, they are beginning to believe the Canadian economy is getting healthy.