Index of Consumer Confidence
Updated: September 18, 2023
Confidence drops to its lowest point since the start of the pandemic
Recent inflation reports may have intensified concerns about the necessity for further interest rate adjustments from the Bank of Canada. This is notably due to the year-over-year uptick to 3.3 per cent in July, following the positive news of a brief decline to 2.8 per cent in June.
September 18, 2023 • 8-min read
12.4 points to 61.2
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The Index of Consumer Confidence is based on the Conference Board’s survey of Canadian households. It tracks consumers’ levels of optimism regarding current economic conditions, personal financial positions, short-term employment outlook, and making major purchases—as well as their expectations for the coming six months.
This index is a crucial indicator of near-term sales for companies in the consumer products sector.
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