New Brunswick Real Estate Association

Atlantic Consumer Confidence

According to the Conference Board of Canada, consumer confidence in the Atlantic region ticked slightly lower in March 2023 and is still sitting near one of its lowest levels on record.

Concerning job prospects over the next six months, the number of respondents expressing uncertainty over the near future of job prospects moved higher in March compared to the previous month. There was about the same number of respondents expecting pessimism regarding the future of the job market while those expecting better conditions moved lower.

Regarding expectations for their household budget over the next six months, the number of respondents expecting deterioration ticked slightly lower in March but remains historically elevated. The number of respondents expressing both uncertainty and stability regarding their household finances trended higher.

Sentiment about making major purchases, like a home or a car, remains at historically subdued levels but got better in March. The overall percentage of consumers who thought it was a good time to make a major purchase remained at the lowest levels on record in March, while the percentage of those who were unsure as to whether it was a good or bad time moved higher.

Note: Based on 3-month moving averages.

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