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Housing Slump, Economic Angst Sink Consumer Confidence in Canada

  • Deteriorating outlook for real estate weighs on sentiment
  • 50% of Canadians expect economy to weaken in next few months
Bloomberg business news
Canada Has a Housing Affordability Crisis: RBC

Canadian consumer confidence has dropped to near record lows again amid growing angst about the global economy.

The Bloomberg Nanos Canadian Confidence Index, a measure of sentiment based on weekly polling, declined for a fifth straight week to touch some of the weakest levels ever outside of the last two economic crises.