Ontario Consumer Confidence
According to the Conference Board of Canada, consumer confidence in Ontario continued to drop in September 2023.
Concerning job prospects over the next six months, the number of respondents expecting stability moved down, while those expecting deterioration in conditions trended higher. The vast majority of respondents still expect unchanged conditions over the next six months.
Regarding expectations for their household budget over the next six months, the number of respondents expecting stability ticked higher in September, as did the percentage of respondents expecting their household financial situation to worsen. The number of those who expected an improvement declined compared to the previous month.
Sentiment about making major purchases, like a home or a car, remains at historically subdued levels. The percentage of consumers who were uncertain about whether it was a good time to buy was down compared to the previous month, as was the percentage of those who thought it was a good time to do so. The number of respondents indicating they feel it is a bad time to make a major purchase is steadily climbing and is almost back at pandemic levels.
Note: Based on 3-month moving averages.