Interest Rate Cut Has Only Struck a Minor Chord with Consumers So Far: Index of Consumer Confidence—June 2024

Interest Rate Cut Has Only Struck a Minor Chord with Consumers So Far: Index of Consumer Confidence—June 2024

Business and Household Indicators
8 min read

Author: Walter Bolduc

$335.00

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 an increase in how consumers viewed their current and future finances in Ontario, Quebec, Saskatchewan, and Manitoba, and a decrease in British Columbia, Alberta, and the Atlantic provinces.

What factors are driving the boost in consumer confidence in some provinces and not others? Despite falling interest rates, what remains the major issue for consumers? What is the outlook for major purchases and job prospects?

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