Canadian consumer confidence as measured by Investors Group rises to 79.7 in May from 77.6 in February, 79.0 a year ago, as more consumers believe now is a good time to make a major purchase, but number who think economy will be better in a year unchanged
Cindy Allen
WINNEPEG, Manitoba
,
June 21, 2013
(press release)
–
In the second quarter of 2013, consumer confidence in
Canada edged upwards. It currently stands at 79.7, up from 77.6 in February. A year ago, in
May 2012, the index stood at 79.0.
According to Chairman Allan Gregg; "While we are detecting an uptick in our aggregate measure of consumer confidence, our Q2 findings suggest that there is still a fair amount of uncertainty in the market place. Specifically, while more consumers believe "now is a good time to make a major purchase" there has been no corresponding improvement in the number of Canadians who believe the economy will be better off in a year's time. The situation is far brighter when Canadians contemplate the state of the economy five years from now, but for the time being consumer enthusiasm seems to be held back by a lack of personal financial growth." "Stronger consumer confidence is a good sign for everyone," said Gaetan Ruest, Assistant Vice-President, Product and Corporate Research at Investors Group. "Increased confidence in both the near term and the longer term outlook is a positive development as we move into the second half of the year." These data were gathered through teleVox, the company's national telephone omnibus survey for two weeks from May 16 2013 and May 28, 2013 for just over 2,000 completes. A sample of the same size has a margin of error of 2.2%, 19 times out of 20.
Better off a year from
now Worse off a year from
now
One year outlook
23%
13%
Good times
Bad times
1 year economic
outlook 12%
16%
5 year economic
outlook 45%
40%
Good time
Bad time
Making a purchase
48%
32%
Better off than a year
ago Worse off than a year
ago
Compared to one yr ago
18%
20%
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