Consumer confidence holds steady

Canadian consumer confidence in Q2 was higher than one year ago but continues to drop from peak levels of the final quarter of 2013, according to the Nielsen Consumer Insights — Investors Group Index of Consumer Confidence.

The index stood at 80.6 in Q2, marginally ahead of the 79.7 of a year ago. It was at 84.4 in the last quarter of 2013 and 81.2 in Q1 of 2014.

Read: Less than half of large-cap managers beat index in Q2

In Q2, 15% of Canadians said they see good times for the economy in the next 12 months, while another 15% said they see bad times. Comparing these figures to Q2 of 2013, only 12% saw good times ahead, while 16% saw bad times.

People remain more optimistic about the long-term outlook for the economy, with close to half (45%) saying they see good times ahead in the next five years. Conversely, 39% believe the next five years will bring unemployment and recession. A comparison with Q2 of 2013 indicates positive sentiment hasn’t changed at all while negative sentiment has dropped by one percentage point during the last year.

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Slightly less than a quarter (24%) of Canadians have a positive outlook about their own and their family’s financial well-being in the coming 12 months, one percentage point higher than Q2 of 2013.

The positive sentiment that this is a good time to make major purchases remains steady while the negative sentiment dropped by 4 percentage points when compared to the Q1 of 2014.

Less than one in five (17%) say they are better off financially compared to a year ago, while 22% say they are worse off.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.