Index of Consumer Confidence Drops in August: Index of Consumer Confidence—August 2024

Index of Consumer Confidence Drops in August: Index of Consumer Confidence—August 2024

Consumer and Business Confidence
9 min read

Author: Loubna Zebiri

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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.

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This month’s Index of Consumer Confidence shows mixed results in how consumers view their current and future finances. Alberta, the Atlantic region, Quebec, and Saskatchewan–Manitoba were more positive concerning their current finances, but their outlook for future finances was less encouraging. British Columbia and Ontario saw decreases in both current and future financial outlooks.

What remains the major issue for consumers? Has lowered inflation had an impact on household spending? Are the recent interest rate cuts influencing consumers’ decisions about major purchases? Has the labour market affected consumer confidence?

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