Woodstock-Ingersoll & District Real Estate Board

Ontario Consumer Confidence

According to the Conference Board of Canada, consumer confidence in Ontario continued to rebound but remained at historically subdued levels in June 2020.

When asked about job prospects over the next six months, the number of respondents expressing pessimism remained high but recorded a drop from May. There was also an increase in the number of respondents expressing optimism about job growth over the next six months.

When asked of expectations for their household budget over the next six months, the number of respondents expecting no change rebounded back to pre-COVID levels. There are still more respondents expecting deterioration in their household finances compared to those expecting an improvement at this time.

Sentiment about making major purchases, like a home or a car, remained at historically subdued levels but trends are beginning to move in a favourable direction. The overall percentage of consumers who thought it was a bad time to make a major purchase dropped in June, while the percentage of those who were uncertain or thought it was a good time for major purchases rebounded.