MNI DATA IMPACT:Canada Consumer Confidence Down Most Since Apr

Canadian consumer confidence fell the most since April amid fears of a second wave of Covid-19 in some regions, the nation's Conference Board said Tuesday, one of the clearest signs yet the economic recovery is in peril.

The Board's index fell 9.5 points to 74.1 in October, the lowest reading since May. The index plunged 41 points to a record low of 47.6 in April. It was set at 100 in 2014.

Increased pessimism about job prospects was the main driver of weakness, and sentiment about future finances also fell to the lowest since April. That shift comes with the government moving millions of people off relief checks to regular employment benefits with stricter conditions on searching for a new job.

"As the second wave of COVID-19 spread across several regions, Canadians started to worry that more restrictive physical distancing measures may weigh on their future employment prospects," the board's report said.

Sentiment was split by region, and mirrored trends in success containing the virus. British Columbia and Atlantic Canada where major new restrictions have been avoided recorded double-digit increases in confidence, while Ontario and Quebec declined amid new shutdowns.