Invest in Canada

Consumers boost confidence in economy

by Christine on 13/08/09 at 11:42 am

Whether or not Canada is truly out of the woods when it comes to the recession remains up for debate, but more and more Canadians are choosing to think positively about the economy, a new survey finds.

The survey, conducted by TNS Canadian Facts, shows their Consumer Confidence Index at 99.2, up 6% from July, when it was at 93.4.

The three subindexes that combine to track overall consumer confidence posted gains during the month, with the Expectations Index seeing the greatest shift: up 8.5 points to 111.1 from 102.6 in July.

The subindex tracks consumer sentiment for the economy, household income and employment in the next six months.

The Present Situation and Buy indexes also increased during the month.

“Consumer confidence has been trending upward since it fell to an all-time low last December,” Michael Antecol, director of the monthly study, said in a release Thursday.

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