Ontario Consumer Confidence
According to the Conference Board of Canada, consumer confidence in Ontario ticked higher in March 2023.
Concerning job prospects over the next six months, the number of respondents expressing optimism continued to trend lower while the number of those expressing uncertainty about future employment opportunities trended 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 stability trended sideways in March. The percentage of respondents expecting their household financial situation to worsen ticked down while those who were optimistic rose. The gap between these respondents has widened in recent months but looks to be closing again.
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 improved slightly compared to the previous month, while the percentage of those who thought it was a bad time to do so remains elevated but ticked down in March.
Note: Based on 3-month moving averages.