Confidence in the economy, real estate is growing

Canadians are becoming more confident in the outlook for the economy, real estate prices, and their finances.

The weekly Bloomberg Nanos Canadian Confidence Index recorded a 56.58 reading last week, up from 55.87 a week earlier and 54.31 four weeks ago. The 2018 low was in mid-July (54.21).

The sub-indexes on personal finances and job security; and expectations for the economy and real estate prices; were both higher last week.

“Over the past four weeks views on the future strength of the Canadian economy have positively moved up almost four percentage points,” said Nanos Research, Chief Data Scientist, Nik Nanos. “Compared to the results four weeks ago all regions in Canada are up in consumer confidence.”

Younger Canadian adults have shown increases in confidence while those over 50 are less confident overall.

Confidence improved among both homeowners and renters.

Source: https://www.canadianrealestatemagazine.ca/market-update/confidence-in-the-economy-real-estate-is-growing-246837.aspx