Consumer Confidence

National consumer confidence continued its decline in January 2025 according to the Conference Board of Canada’s survey-based index of consumer confidence.

Concerning job prospects over the next six months, the number of respondents expecting a decline in job opportunities continued trending higher as the number of those expecting stability in the labour market fell in January to the lowest level since early 2022.

Regarding expectations for their household budget over the next six months, most respondents expect conditions to remain the same. However, the number of respondents expressing pessimism over their future financial situation rose compared to the previous month while those expecting stability moved lower.

Sentiment about making major purchases, like a home or a car, remains at subdued levels across the country. The overall percentage of respondents who thought it was a bad time to make a major purchase increased in January as the number of those expressing optimism or uncertainty moved lower.

Note: Based on 3-month moving averages.