National Consumer Confidence
National consumer confidence continued to plummet in July 2022, according to the Conference Board of Canada’s survey-based index of consumer confidence.
Overall sentiment was down across all regions of the country.
Concerning job prospects over the next six months, the number of respondents expecting stability increased as the number of respondents who expected an improvement in job opportunities declined.
Regarding expectations for their household budget over the next six months, the number of respondents expecting stability continued trending lower at the expense of more respondents expecting a deterioration in their household finances. The gap between respondents expressing pessimism over their future financial situation and those expressing optimism continues to widen.
Sentiment about making major purchases, like a home or a car, remains at historically subdued levels across the country. The overall percentage of respondents who thought it was a good time to make a major purchase fell again in July, as the number who thought it was a bad time to do so continued to rise.
Note: Based on 3-month moving averages.