Consumer confidence slipped into negative territory , as a growing number of Canadians say their own financial circumstances are worsening. according Bloomberg Nanos Pole.
In the survey, 50.3% of respondents said their personal finances were worse off over the past year, versus 48.9% a week ago. And 16.7% said they believed that the value of real estate in their neighborhood will decrease in the next six months, the highest percentage since late April.
“Real estate has been a significant influencer on consumer confidence. Canadians are positive but less bullish on the future value of real estate,” said Nik Nanos, chief data scientist of Nanos Research. “Factoring the long-term index trend and how it correlates to future gross domestic product, the tracking suggests an economic softening.”
