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Deteriorating Personal Finances Take Toll On Confidence

CANADA DATA
  • Consumer confidence has continued to roll over further in the weekly Bloomberg Nanos survey, dipping from 50.2 to 49.5 and back below 50 for its first time since early April.
  • It has softened from recent peaks of 53.1 in August and June, vs a range of 54-59 ahead of the pandemic.
  • The contribution by survey question was mixed but the two areas of weakness were backward-looking personal finances (now more than 50% worse off) and six-month ahead real estate views.
  • On the flip side, the perception of current job security firmed to highs for at least the past month to 52.6, following net job creation coming three times stronger than expected in September.

Nanos Economic Mood (white), expectations (yellow) and pocketbook (green)Source: Bloomberg

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