Ontario Consumer Confidence
According to the Conference Board of Canada, consumer confidence in Ontario edged down in May 2023.
Concerning job prospects over the next six months, the number of respondents expressing expecting stability moved up, while those expecting better conditions ticked lower. The majority of respondents still expect unchanged conditions over the next six months.
Regarding expectations for their household budget over the next six months, the number of respondents expecting stability moved higher in May. The percentage of respondents expecting their household financial situation to worsen was down, as was the number of those who were optimistic.
Sentiment about making major purchases, like a home or a car, remains at historically subdued levels but is beginning to improve. The percentage of consumers who were uncertain about whether it was a good time to buy moved up compared to the previous month, while the percentage of those who thought it was a bad time to do so ticked down in May.
Note: Based on 3-month moving averages.
