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CANADA DATA: Consumer Confidence Extends Decline Since US Election

CANADA DATA
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  • It’s a small survey of 1,000 households that warrants being treated with some caution, but the Bloomberg Nanos survey shows a continued decline in a swathe of consumer confidence metrics since the US presidential election.
  • The main economic mood index fell 2pts to 52.1 last week, further below its recent highs of 56.7 seen in the two weeks prior to the US election.
  • It’s the lowest since May whilst the 2pt drop is the largest weekly decline since April 2020.
  • The share expecting the economy to look stronger in six months’ time fell further to 13.3% from 17.7%, down from a recent high of 26.2% in the week to Nov 1 for its lowest since May and before that Dec 2023.
  • This appears to be feeding into some job security concerns even if our calculation of net job security is still reasonably solid on a historical basis: at 47.5%, it’s down from ~51.5% pre-election but not far from the 2019 average of 48.7%. 
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  • It’s a small survey of 1,000 households that warrants being treated with some caution, but the Bloomberg Nanos survey shows a continued decline in a swathe of consumer confidence metrics since the US presidential election.
  • The main economic mood index fell 2pts to 52.1 last week, further below its recent highs of 56.7 seen in the two weeks prior to the US election.
  • It’s the lowest since May whilst the 2pt drop is the largest weekly decline since April 2020.
  • The share expecting the economy to look stronger in six months’ time fell further to 13.3% from 17.7%, down from a recent high of 26.2% in the week to Nov 1 for its lowest since May and before that Dec 2023.
  • This appears to be feeding into some job security concerns even if our calculation of net job security is still reasonably solid on a historical basis: at 47.5%, it’s down from ~51.5% pre-election but not far from the 2019 average of 48.7%.