Consumer Sentiment Turns Negative in Canada as High Rates Bite
- Canadians worried about wealth tied to the housing market
- Majority say their finances have deteriorated in past year
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Consumer confidence slipped into negative territory for the first time in more than six months, as a growing number of Canadians say their own financial circumstances are worsening.
The Bloomberg Nanos Canadian Confidence Index, a measure of sentiment based on weekly polling, dropped to 49.5. A level below 50 suggests net negative views about the economy. It’s the lowest reading since April and compares with 53.1 in early June, this year’s peak.