Consumer Confidence Fell Again

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By Elli Davis, September 8, 2010

Go down by Shahram Sharif

Consumer confidence in Canada fell again, for the second quarter in a row, a very recent public opinion poll clearly demonstrates. The Canada-wide telephone survey of more than 2,000 people was conducted by Harris/Decima between August 19 and 29.

Overall consumer confidence decreased from 85.9 in May to 82.4 last month. Approximately 20 percent of Canadians now expect the economy to get better over the next year, which was a drop from the 25 percent of people who held this opinion in May. Roughly 16 percent of them think the economy is going to get worse, a 1 percent increase since May. The number of people who predict they will go through more positive period in 12 months fell slightly, from 27 to 26 percent. On the other hand, about 14 percent of respondents are convinced things are going to get worse for them.

More than a half of respondents, 55 percent (3 percent decline from May), think the economy is going to be just fine over the next five years and 32 percent of them (2 percent increase from May) think times are going to be hard. The results seem to be quite good actually, although there is a decline in consumer confidence, it is not that big of a fall.