Canadian consumer confidence held at its highest since January amid growing optimism about the country’s economic outlook.
The Bloomberg Nanos Canadian Confidence Index -- a composite measure based on consumer polling -- was unchanged at 56.8 last week. The weekly index has been trending higher since the end of February, when it reached an almost two-year low.
Every week, Nanos Research asks Canadians for their views on personal finance, job security, the outlook for the economy and where real estate prices are headed. This is what the survey data, which is compiled for Bloomberg News, captured for the week through May 8:
*The share of Canadians who expect the economy will weaken in the next six months fell to 29.8 percent, the lowest since December and down from as high as 47 percent in February. Predictions of a stronger economy rose to 18 percent last week, from 16.1 percent. The difference between pessimists and optimists -- at 11.8 percentage points -- is the narrowest since January.
*Fewer Canadians are predicting weaker real estate prices, with the share of housing pessimists falling to 14.9 percent, the lowest since January. The share of respondents predicting increasing prices also fell to 35.9 percent, from 37.8 percent a week earlier.
*Job security numbers were little changed last week. The share of Canadians who say their jobs are secure was at 71.5 percent, with 12.7 percent worried about losing their jobs.