Economics
Consumer Confidence Tumbles in Canada as Housing Market Reverses
- Inflation hits households; 39% say finances have worsened
- Half of respondents are expecting the economy to weaken
Shoppers at a mall in Montreal last week.
Photographer: Stephanie Foden/BloombergThis article is for subscribers only.
Canadian consumer confidence recorded its sharpest weekly decline since the depths of the pandemic, with inflation and a deteriorating outlook for housing weighing on sentiment.
The Bloomberg Nanos Canadian Confidence Index, a measure of sentiment based on weekly polling, dropped to 54.3 last week, the lowest reading since December 2020. The 1.8-point decline is the largest one-week slump in the index since April 2020.