Canadians optimistic about the economy
May 25, 2012 By Canadian Garden Centre & Nursery
May 25, 2012, Toronto — Canadians' consumer confidence took an encouraging jump in May, a sign that consumers may be feeling better about the economy heading into spring and summer.
According to the latest consumer confidence survey conducted by TNS, the index measured 98.8 this month, more than three full points higher than the 95.4 posted in April.
"It seems that Canadians have woken up about the economy and are liking what they see," said Norman Baillie-David, vice-president of TNS in Canada and director of the marketing and social research firm's monthly tracking study. "Since the beginning of the year, confidence has been flat, or just waffling up and down as Canadians didn't seem to be preoccupied with economic concerns. The most recent and significant jump bodes well for the summer months."
The present situation index, which measures how people feel about the economy right now, also rose significantly in May, climbing five points from 94.0 in April to 99.2 in May, the highest it's been since July of last year.
"Canadians are feeling better about money issues today, in fact, better than they have for almost a year," said Baillie-David.
The expectations index, which measures people's outlook for the economy six months from now also jumped higher, rising almost four points from 99.0 to 102.7, passing the all important 100 mark. This means that the index ticked higher than the long term average.
"Canadians are starting to feel bullish about the economy now and in the near future," Baillie-David concluded.
The surveys were conducted among 1,027 Canadians over the age of 18 between May 14 and 17. The margin of error for the survey is 3.1 per cent, 19 times in 20.
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