National Consumer Confidence
National consumer confidence continued to rebound but remained at historically subdued levels in June 2020, according to the Conference Board of Canada’s survey-based index of consumer confidence.
Overall sentiment exhibited a similar trend across all regions of the country as local economies begin reopening in stages and to various extents.
When asked about job prospects over the next six months, the number of respondents expressing pessimism remained high but recorded a considerable drop from May. There was also a small 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 across the country but trends are moving in a favourable direction. The overall percentage of consumers who thought it was a bad time to make a major purchase dropped sharply in June, while the percentage of those who were uncertain or thought it was a good time for major purchases rebounded halfway back to their pre-COVID levels.