Ontario Consumer Confidence
According to the Conference Board of Canada, consumer confidence in Ontario rebounded again in January after falling for most of 2023.
Concerning job prospects over the next six months, the number of respondents expecting stability moved down, while those expecting deterioration in conditions continued trending higher. The 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 similar conditions moved slightly higher in January, as the percentage of respondents expecting their household financial situation to worsen trended down while those who were optimistic ticked up.
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 buy trended down compared to the previous month. The number of respondents indicating they feel it is a bad time to make a major purchase ticked higher in January.
Note: Based on 3-month moving averages.