CTV News | Consumer confidence remains largely in the dumps

Canada -   

Consumer confidence remains largely in the dumps

Viewer

CTV News Video

CTV Newsnet: BNN's Michael Kane on the numbers

Font-size:      Share  Print  Comments(4)

The Canadian Press

Date: Mon. Jan. 26 2009 10:04 AM ET

OTTAWA — The Conference Board of Canada says consumer confidence ticked upward slightly this month, but remains at recession-era lows.

The Ottawa think-tank's monthly survey showed Canadians largely remain pessimistic about their job prospects and their financial situation.

The index rose 2.5 points to 70.2 from December's 26-year low reading, but remains at levels consistent with the recessions of the early 1980s and 1990s.

The Conference Board says falling gas prices appeared to brighten the spirits of some consumers.

The survey suggests slightly more Canadians felt their families were better off than six months ago, and there was a decline in the number who felt they were worse off.

But the balance of opinion on employment prospects remained bleak in January with a majority saying they are concerned about the labour market.

Still, for the fourth month in a row there was a slight increase in the number of Canadians who felt now was a good time to make a major purchase, although more -- by a margin of two-to-one -- still fee it is a bad time.

The telephone survey of 2,000 was conducted Jan. 8 to 16 and is considered accurate within a margin of plus or minus 2.19 per cent, 19 times out of 20.

Comments are now closed for this story

QT-1
said

This article caused me to chuckle. For months the media has been crying and bemoaning the troubles in the States and how it has dragged us all down.

Well duh! What do you expect. If you feed the people depressionary tales and keep crying woe is us is it any wonder they lack confidence?

Pewrhaps you can tell them that the junior mining sector in Canada the worst hit of the sectors is finally showing signs of life and that there is light at the end of this tunnel afterall.

Cheer up gang we'll get through this!

QT-1



island girl
said

What kind of statistics are "slightly more" and "the balance of opinion" and "a slight increase". This survey tells me nothing. Here in BC things are doing very well indeed. If you're looking at something in a store, better buy it because three times now I've thought it over, gone back the next day, and the items were gone. Different stores, too.


Roger T
said

Who wouldn't be when you have the current Gov't giving false hopes and hopeless ideas:

- the finance minister JF tells banks to lend more money to consumers when consumers are already over burden with debt loads. Telling consumers to spend what they don't have is just the best idea I've heard so we can all grind ourselfs to a FINAL HALT!

- Harper tells consumers & investors to keep buying into the stock market while it's sinking faster than the titanic is another brillant idea, lose all your saving lose your home!

The real issue which should be more important is to regulate gas priceses, ask business to cope with reducing prices, give instant rebates to consumers and have retailers charge back to the Gov't programs on what the rebate offers, tell banks lower mortgage rates and car dealerships.

But lending and borrowing more money isn't going to solve what IS the problem consumers are facing.

Lets start from there.....




Matt
said

People are losing jobs and getting their hours cut, of course they don't feel confident about their job prospects.
If they don't feel secure in their ability to get money, they won't spend what they have.

What needs to change is for people to see their hours pick up, and to see more people getting hired, which might take a while.


Share with your social Network:

 

Advertisement

Contest

Related Websites

User Tools

About the tools

Need to get in touch with CTV? You can email the CTV web team using the 'Feedback' button.

Share it with your network of friends

Share this CTV article or feature with your friends. Click on the icon for your favourite social networking or messaging system, and follow the prompts.

Share this article with Facebook

Share this article with Digg

Share this article with Newsvine

Share this article with delicious

Share this article.
Send Email

Share this article with Twitter

Share this article with StumbleUpon

Share this article with Reddit

Share this article with Yahoo! Buzz