News Releases 10-69

Consumer Confidence Rose To Two-Year High In January

Ottawa, February 1 — The Index of Consumer Confidence rose 13.8 percentage points in January to a 23-month high, according to the Conference Board’s Index of Consumer Confidence-January 2010.

“The index is over 40 points higher than it was one year ago. This suggests that Canadians are seeing a light at the end of the recession tunnel,” said Pedro Antunes, Director, National and Provincial Forecast.

The Index of Consumer Confidence now stands at 96.6 (2002 = 100).

All five regions moved significantly higher, with the Western provinces leading the way:

• The index reached 109.1 in British Columbia, thanks to a 22.2 point increase—the largest monthly gain ever recorded for the province; 
• The Prairies increased 15.3 points to reach 106.8; 
• The index in Atlantic Canada rose 13.6 points to 103; 
• In Ontario, an increase of 12.3 points in January boosted confidence in the province to 93.7, more than double its December 2008 level of 45.9; and 
• Quebec’s index rose 9.4 points, but confidence in the province is significantly lower than it is in the rest of Canada.

The balance of opinion improved on all four questions asked in The Conference Board of Canada’s survey, with particularly strong responses on consumers’ finances and future employment.

This month’s survey was conducted between January 7 and January 24. The margin of error is plus or minus 1.8 per cent.