Central Alberta REALTORS® Association

Prairies Consumer Confidence

According to the Conference Board of Canada, consumer confidence in the Prairies plummeted in March 2020. Consumer confidence remains at subdued levels compared to the past three years but has risen considerably from the low seen at the end of 2019.

When asked about job prospects over the next six months, the number of respondents expressing pessimism rose sharply at the cost of fewer respondents expecting improvement and a steep decline in the number of those expecting stability. The number of respondents expressing pessimism now outweighs those expecting stability.

Most consumers expect that their household budget will remain stable over the next six months, although the number of respondents expressing pessimism or uncertainty posted a strong gain. There was a noticeable decline in the number of respondents expecting their budget to remain stable or improve over the next six months.

Sentiment about making major purchases, like a home or a car, was down. Overall, the percentage of consumers who thought it was a bad time to make a major purchase rose in March as the percentage of those who were uncertain or thought it was a good time for major purchases tumbled.