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The monthly Index of Consumer Confidence is constructed from responses to four attitudinal questions posed to a random sample of Canadian households.
The Index of Consumer Confidence declined in September as Canadians became more pessimistic about both their current and future finances. There’s reason for Canadians to be concerned. Throughout the first half of the year, strong wage growth was able to offset the higher debt costs that came with rising interest rates. However, with wage growth beginning to weaken and the expectation that interest rates will continue to rise, Canadian households are becoming less confident.
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