Canadians Losing Optimism

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By Elli Davis, July 10, 2010

Photo by Rich Anderson

People in Canada are losing their optimism about the Canadian economy and specifically their financial future. This is what a telephone survey of 1,008 Canadians, recently conducted by Nanos, showed.

In the second quarter of 2010, 40.9 percent of the respondents believed there will be no noticeable change in the economy over the next six months. That is an increase of 2.8 percent from the first quarter of this year. Just for comparison, 39.4 percent of Canadians thought that the economy will become stronger in the next six months. From the first quarter, this is a 4.5 percent fall.

Regarding real estate, 43.3 percent of the respondents predict that the prices of homes in their neighborhood will stay about the same. This is not that bad, but it is basically the same results as the last quarter. No real positive outlook, I have to say. Seems like people are starting to realize the economy is not going to be great forever.