Canadians are feeling remarkably bullish about the economy, with one measure of their outlook at a three-year high, according to the latest TNS Canadian Facts’ Consumer Confidence Index.
A phone survey of 1,015 Canadian adults from March 19 to 22 showed that the Expectations Index, which measures what state consumers think the economy, household income and employment will be in six months from now, reached 104.5 points in March. That was up from 101.7 in February, and the highest ever recorded in the survey’s nearly three-year history. (All figures compare the current level of confidence against an index set at 100.0 for July 2004, when TNS launched the survey.)
The Present Situation Index, which tracks how well Canadians think the economy and employment are doing currently, jumped to 115.5 points in March, a near-record high that was up from 110.5 points in February.
“The resilience of consumer sentiment is largely in line with the resilience of the Canadian economy over the past year, which has weathered both short- and long-term challenges,” says Richard Jenkins, vice-president of TNS Canadian Facts, a Toronto-based marketing research firm.