Canadian Consumer Confidence Keeps Falling

Reaches lowest level in two years according to Bloomberg-Nanos index.

Consumer confidence in Canada continues to move on a downward trend.

According to the Bloomberg-Nanos Canadian Confidence index, the consumer confidence level dropped to 54.9, the lowest since 2016.

It’s down 6.2 from the same time last year.

According to BNN Bloomberg, “The percentage of Canadians giving the most pessimistic responses jumped to 21.6 per cent — the highest since March 2016 — versus 18.7 per cent at the end of May and 14.2 per cent at the end of 2017.”

There has also been a big rise in the number of people who think the economy will weaken, and a decline in those who think it will get stronger.

41.3% think the economy will weaken in the next six months, while just 13.4% think it will get stronger.

There is also pessimism when it comes to personal finances, with 26.8% of respondents saying they think their personal finances are worsening, while 18% think their finances are improving.

While some of this is due to the rising trade tensions with the US, the decline in consumer confidence began before the trade war got underway.

With the Trudeau government pushing ahead with their increased regulations, higher taxes, and widely-hated carbon tax, investment has been fleeing our country by the tens of billions (reaching a whopping $100 billion lost in 2017).

With the Trudeau government making it impossible for our businesses to compete, and taking more and more money out of the hands of Canadians, our ability to withstand a trade conflict has been badly reduced, and the Canadian people are paying the price.

Spencer Fernando

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Shawn Harris
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Shawn Harris

The results of the consumer confidence index come as no real surprise, as Stephen Harper tried to warn all Canadians as to what they could expect if Trudeau were to become PM. Remember the ads that the conservative party put out about trudeau just not being ready, well they were very accurate, now that we have seen the not so excellent economice skills of the Trudeau Liberals. Harper warned us all, that with Trudeau would come the higher taxes, lost business investments and a destroyed economy. Harper has proven himself to be the most valuable PM Canada ever had. Especially… Read more »

grandpaspeaks
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grandpaspeaks

Did you hear that? I keep hearing a muffled “Fuddle Duddle”. It seems to be emanating from well below the House of Commoners. Hard to hear with all the stomping by the debt slaves these days. Are we tired of the elites debt based fiat currency system yet? Oh I know you don’t bother. You have to get to work to pay your loans. It is what commoners do. Mind your place or do something about it. But do something we must. A definition of tyranny can be stated as what is legal for the government and bankers is illegal… Read more »

Alain
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Alain

Stay out of debt if you can folks. The sh*$ is about to hit the fan. We are entering a recession and Canadians are going to get hit hard (I hope I am wrong). The nincompoop leading this country is not helping the situation.