Ontario Consumer Confidence
According to the Conference Board of Canada, consumer confidence in Ontario plummeted for the tenth straight month in a row in June 2022.
Concerning job prospects over the next six months, the number of respondents expecting stability continued to move higher while the number of those expressing optimism about job futures fell.
Regarding expectations for their household budget over the next six months, the number of respondents expecting stability continued to drop, while there was another increase in the percentage of respondents expecting their household financial situation to worsen. There is a growing divergence between those respondents expressing pessimism vs. those who are more optimistic.
Sentiment about making major purchases, like a home or a car, remains at historically subdued levels. The percentage of consumers who thought it was a good time to make a major purchase and those who were uncertain fell compared to the previous month as those who thought it was a bad time to do so moved higher.
Note: Based on 3-month moving averages.