Snapshot: Canadian mindset on the economy

Canadians more optimistic about the future of Canada's economy than they were 
in 2011 
TORONTO, Nov. 13, 2012 /CNW/ - A recent Scotiabank poll found that while 
Canadians' overall economic outlook is more optimistic, they are still 
hesitant when it comes to their personal investment strategies in the 
fluctuating economic environment. Canadian optimism for the economy moved to 
49 per cent, up significantly from last year (39 per cent). Despite the rise 
in optimism, 62 per cent of Canadians viewed maintaining their current market 
position as the wiser investment strategy for the remainder of this year. 
Additional findings on Canadians' economic mindset include: 


    --  The top two factors having the greatest impact on Canadians'
        decisions to add to their investments this year were the state
        of the economy (72 per cent) and fluctuating market conditions
        (71 per cent).
    --  While economic optimism is up, 63 per cent of Canadians say
        it's a concern when it comes to their investments - unchanged
        from last year.
    --  Twenty-nine per cent looked to safer investment categories as
        their preferred financial strategy for the rest of this year.

"With the increased volatility in global markets earlier this year and 
unpredictable developments going into 2013, it's not surprising that many 
Canadians continue to take a more cautious approach to their investment 
decisions," said Andrew Pyle, ScotiaMcLeod Wealth Advisor. "In any economic 
environment, the best practice is to regularly review your risk assessment 
with respect to your investments. Sitting down with a financial planner can 
help you see where you are and where you need to go in a way that suits your 
tolerance level and lifestyle goals."

About the polling data
The Scotiabank Mega Poll was conducted through Harris/Decima's telephone 
omnibus, teleVox from June 18 through 28, 2012. A total of 2,013 surveys 
were conducted nationally with Canadian respondents 18 plus years of age.

About Scotiabank 
Scotiabank is one of North America's premier financial institutions and 
Canada's most international bank. With more than 81,000 employees, Scotiabank 
and its affiliates serve some 19 million customers in more than 55 countries 
around the world. Scotiabank offers a broad range of products and services 
including personal, commercial, corporate and investment banking. With assets 
of $670 billion (as at July 31, 2012), Scotiabank trades on the Toronto (BNS) 
and New York Exchanges (BNS). For more information please visit 
www.scotiabank.com.

Did you know? November is Financial Literacy Month, to learn about 
Scotiabank's Financial Literacy Strategy please read the related press release 
on the Scotiabank Newsroom at www.scotiabank.com.  

BACKGROUNDER: Canadian Mindset on the Economy
    --  Albertans are most optimistic than nearly all others about the
        Canadian economy (68 per cent).
    --  When asked what their wisest investment strategy is for this
        year, only nine per cent of Canadians said they would increase
        their investment into the market, with men (13 per cent) more
        likely than women (six per cent) to follow this approach.
    --  Albertans (19 per cent) are most likely to increase their
        investment into the market as part of a wise investment
        strategy.
    --  When it comes to investing, older Canadians are more likely to
        agree that they are concerned about the fluctuating economy
        specifically among 45-54 years olds and 55+ year olds (66 per
        cent each) as compared to Canadians between the ages of 18-34
        years (54 per cent).
    --  Quebecers and Ontarians (74 per cent each) are more likely than
        Albertans (63 per cent) to report the state of the economy
        impacting their investment decisions while there are no
        regional differences on how fluctuating market conditions have
        impacted such decisions.
    --  Sixty-three per cent of Canadians cite risk of short term loss
        as having an impact on their investment decisions.

Diana Hart Scotiabank P: 416-866-7238 E:diana.hart@scotiabank.com

SOURCE: Scotiabank

To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/November2012/13/c6628.html

CO: Scotiabank
ST: Ontario
NI: FIN ECOSURV 

-0- Nov/13/2012 13:00 GMT


 
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