Prairies Consumer Confidence
According to the Conference Board of Canada, consumer confidence in the Prairies recorded a decrease compared to the previous month in April 2019.
Sentiment about job market prospects deteriorated sharply early in 2015 and has remained weak ever since. The number of respondents expecting stability as well as those expecting better conditions rose as those expressing uncertainty moved in the opposite direction.
Most consumers in the Prairie region expect their household budgets will remain stable over the next six months. April saw a slight uptick in the number of respondents expecting an improvement in their finances and a decrease in those expecting deterioration.
Sentiment about making a major purchase, such as a home or a car, was down in April. More respondents expressed pessimism, gaining numbers from fewer respondents expressing optimism. Overall sentiment regarding making large purchases are still negative. Given the importance of consumer psychology to home purchases, this important factor is likely to continue weighing on housing market prospects.
According to the Conference Board of Canada, consumer confidence in the Prairies was up for a third consecutive month in March 2023 after declining from the second half of 2021 through 2022.
Concerning job prospects over the next six months, the number of respondents expecting stability continued to rise. The number of respondents who expressed pessimism dipped lower in March. The gap between those respondents expecting worse conditions and those who are optimistic has widened in recent months.
Regarding expectations for their household budget over the next six months, the number of respondents expecting deterioration in their household finances was essentially unchanged as the number of respondents expecting conditions to remain the same ticked higher.
Sentiment about making major purchases, like a home or a car, remains at historically subdued levels, but ticked lower in March. The overall percentage of consumers who thought it was a good time to make a major purchase moved slightly higher in March but remained at one of the lowest levels on record.
Note: Based on 3-month moving averages.
