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Consumer Confidence Continues Modest Improvement

CANADA DATA
  • The Bloomberg Nanos consumer confidence index continued its recent improvement last week, rising from 49.8 to 50.3.
  • It’s off a low of 48.7 from early Nov but remains off the 53 peaks seen in June and August and the 55-60 typical readings in pre-pandemic years.
  • The details were more mixed, with the pocketbook souring but expectations driving the improvement.
  • Indeed, forward-looking aspects for the Canadian economy and real estate improved from low levels (14.5% see the economy stronger over the next year, 44% see real estate prices increasing over the next six months).
  • On the other hand, personal finances over the past year unwound some of the prior week’s gain (14.6% seen themselves as better off) and current period job security softened (48.15% see their jobs as secure, lowest in at least a month).

Source: Bloomberg

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