Atlantic Consumer Confidence
According to the Conference Board of Canada, consumer confidence in the Atlantic region posted a small rebound but remained at historically subdued levels in May 2020.
When asked about job prospects over the next six months, the number of respondents expressing pessimism rose further. The number of respondents expecting deterioration in the labour market exceeds those expecting stability for the first time in over five years.
More consumers now expect their household budget will remain stable over the next six months compared to the number of those expecting deterioration. This marks a reversal from the previous month’s trend.
Sentiment about making major purchases, like a home or a car, remained near the lowest levels on record. The overall percentage of consumers who thought it was a bad time to make a major purchase skyrocketed in April as the percentage of those who were uncertain or thought it was a good time for major purchases moved sharply in the opposite direction.