Ontario Consumer Confidence
According to the Conference Board of Canada, consumer confidence in Ontario was down slightly in January 2023.
Concerning job prospects over the next six months, the number of respondents expressing pessimism rose while the number of those expressing optimism about future employment opportunities moved in the other direction. Most respondents still expect unchanged conditions over the next six months and the number of respondents expressing uncertainty is on the rise.
Regarding expectations for their household budget over the next six months, the number of respondents expecting stability remains elevated. There was little change in the percentage of respondents expecting their household financial situation to worsen, although the gap between these respondents and those expressing optimism continue to widen.
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 or who were uncertain was little changed compared to the previous month, while the percentage of those who thought it was a bad time to do so remains elevated.
Note: Based on 3-month moving averages.