Consumer Confidence

National consumer confidence continued its rebound in November 2024 according to the Conference Board of Canada’s survey-based index of consumer confidence.

Concerning job prospects over the next six months, the number of respondents expecting a decline in job opportunities ticked slightly higher as the number of those expecting better conditions in the labour market fell in November to the lowest level since late 2015. Most respondents still expect employment conditions to remain stable.

Regarding expectations for their household budget over the next six months, most respondents expect conditions to remain the same. The number of respondents expressing pessimism over their future financial situation barely budged compared to the previous month while those expressing optimism trended lower.

Sentiment about making major purchases, like a home or a car, remains at subdued levels across the country but continues to improve. The overall percentage of respondents who thought it was a bad time to make a major purchase continued to decrease in November from record high levels as the number of those expressing optimism moved higher.

Note: Based on 3-month moving averages.