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Index of Consumer Confidence—December 2021 The Conference Board of Canada, January 12, 2022 Website by Momanyi Mokaya

Index of Consumer Confidence—December 2021

The Conference Board of Canada, January 12, 2022
Website by Momanyi Mokaya

The monthly Index of consumer confidence is constructed from responses to four attitudinal questions posed to a random sample of Canadian households. Document Highlights Survey responses used in assessing consumer confidence were collected over the first two weeks of December, prior to any lockdowns. At the time, the omicron variant was spreading rapidly across Canada and several provinces had postponed reopenings due to the uncertainty surrounding the new variant. That uncertainty was reflected in Canadians’ growing caution about their future finances. The share of negative views on future finances grew by 2.1 percentage points. Fears over future finances suggest that the average Canadian will likely limit spending and save more for a rainy day. Furthermore, inflation is at a 30-year high, and many households are feeling its pinch. Concerns about prices rising are reflected in the share of respondents (52.8 per cent) who expressed pessimism about whether it was the right time to make a major purchase.

The monthly Index of consumer confidence is constructed from responses to four attitudinal questions posed to a random sample of Canadian households.

Document Highlights

Survey responses used in assessing consumer confidence were collected over the first two weeks of December, prior to any lockdowns. At the time, the omicron variant was spreading rapidly across Canada and several provinces had postponed reopenings due to the uncertainty surrounding the new variant.
That uncertainty was reflected in Canadians’ growing caution about their future finances. The share of negative views on future finances grew by 2.1 percentage points. Fears over future finances suggest that the average Canadian will likely limit spending and save more for a rainy day.
Furthermore, inflation is at a 30-year high, and many households are feeling its pinch. Concerns about prices rising are reflected in the share of respondents (52.8 per cent) who expressed pessimism about whether it was the right time to make a major purchase.

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