Confidence Reverses Course
After four consecutive months of steady gains, the Index of Consumer Confidence weakened in August’s survey, with a growing share of households anticipating deteriorating conditions in all areas covered by the survey. Confidence softened across most provinces, driven partly by the Bank of Canada’s decision to hold its key interest rate steady at 2.75 per cent.
How is economic uncertainty and signs of a weakening economy affecting consumers’ confidence? Which provinces saw a decrease in consumer confidence and which saw an increase, and why? What are consumers’ views on future finances as well as the labour market?
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