Index of Consumer Confidence

Interest Rate Cut Has Only Struck a Minor Chord with Consumers So Far

The Bank of Canada’s first interest rate cut since March 2022 drove modest consumer confidence gains. Canadians breathed a sigh of relief after the interest rate announcement earlier this month.

July 15, 2024   •   8-min read

4.7 points to 66.0

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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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