Economics
Economic Gloom Deepens in Canada With Virus Cases Still Rising
- Measure of optimism on economy slumps to lowest since May
- High-frequency data show restaurant bookings, spending fell
People wait in line outside a Covid-19 testing center in Toronto last month.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Fewer consumers are feeling optimistic about Canada’s economic prospects, another signal the initially robust recovery is entering a slower, more difficult phase.
Only 12.9% of respondents believe the country’s economy will strengthen in the next six months, the smallest share since early May, telephone polling shows. That left the Bloomberg Nanos Canadian Confidence Index slightly lower at 51.8. The index has dropped for four straight weeks from a post-pandemic high of 53.2 late last month.