Consumers In Canada Have Higher Confidence Due To Real Estate And Economy

For Canada, its consumers’ sentiment has risen once again for the fifth consecutive week. This is because the Canadians are now more positive regarding the economy of the country as well as the state of the housing market. This is according to a weekly polled that was released.

According to the Bloomberg Nanos Canadian Confidence Index, which gather its result from the answer on the survey regarding job security, outlook for the country’s economy, personal finances and the prices in the real estate market, the figure has risen from a previous record of 59.5 to 59.9 for the week which ended last August 5. This is the highest that has been recorded ever since September of 2014.

The increase in the sentiment shows that the people are becoming more positive regarding the economy of the country and its improvement in the future. The number of Canadians that believe in the economy being stronger has risen to 26.3 per cent in the last week. This is the highest number recorded since the month of May. There are those that believe that the economy will become weaker but the number has decreased to only 21 per cent and this is the lowest that has been recorded since October of 2014. The point difference among the two data is 5.3 per cent and this is the largest point different recorded since November of last year.

With regards to the real estate sector, the Canadians are also optimistic about its future and 44.2 per cent of them are suggesting that there will be future price gains and predictions of a decline that will reach 11.1 per cent. The point difference between the figures is 33.1 per cent which is the biggest since October of 2014.

Personal finances, on the other hand, shows that 16.8 per cent of the citizens are in a better state compared to last year. This is the highest figure since January of this year. The number of people who thinks that they are in a worst state increased from the previous 21.5 to 22.7 per cent.

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