Indicators
Housing Optimism Lifts Canada Consumer Confidence to Six-Month High
- Improving outlook for real-estate market underpins rise
- Central bank said last month in would pause rate hikes
Townhouses under construction in Vaughan, Canada.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Consumer confidence rose to the highest level since the end of September as more Canadians see real estate values rebounding after the central bank conditionally halted its interest-rate hikes.
The Bloomberg Nanos Canadian Confidence Index, a measure of sentiment based on weekly polling, jumped by the most since the end of November. The index climbed to 47 on Friday, up from 45.7 a week earlier and 45.3 on Jan. 20, shortly before the Bank of Canada said it would stop to assess the impact of rate increases and hold its benchmark overnight rate steady at 4.5%.