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Canadians More Optimistic About The Economy | Mortgage For Less Corp.

Canadians More Optimistic About The Economy

Posted on January 21/2011 by

Canadians More Optimistic About The Economy,The Canadian Consumer Confidence Index .

It seems that Canadians, for the most part, are feeling much better about the economy these days. While they are decidedly more optimistic, they are avoiding luxury purchases and big ticket items, like furniture and appliances- and prefer to spend slightly more strategically and responsibly on more essential items.

The survey is split into four measures: The Buy index, Consumer Confidence Index, Present Situation Index and the Expectations Index. All three indexes posted gains, with the exception of the Buy Index. “It’s also interesting to note the slight decline of 0.3 points in the Buy Index as Canadian consumers ratchet back some of their spending plans in the wake of January bills.

While normally a decrease in the Buy Index would represent bad news, this slight decline – even if only temporary – at least shows that some Canadian consumers are heeding the message to watch their debt. We’ll see in February whether or not that message sticks.”

Canadians spent less this holiday season- perhaps an indication that lingering wounds from the recession are not completely healed. They spent with an average of $1,008, compared to last year’s average of $1,024. Overall, the Consumer Confidence Index- which is perhaps the best leading indicator as to where consumer sentiment is heading, showed a modest gain- but a gain nonetheless of 2. 3 points in January.

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