Newfoundland and Labrador Association of REALTORS®

Atlantic Consumer Confidence

According to the Conference Board of Canada, consumer confidence in the Atlantic region plummeted on a monthly basis in March 2020.

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.

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 or thought it was a good time for major purchases tumbled.