Consumer Confidence

National consumer confidence moved up in July 2024 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 to rise as the number of those expecting better conditions fell in July to the lowest level since late 2015.

Regarding expectations for their household budget over the next six months, most respondents expect conditions to remain the same. The number of respondents expressing pessimism over their future financial situation declined compared to the previous month.

Sentiment about making major purchases, like a home or a car, remains at historically subdued levels across the country. The overall percentage of respondents who thought it was a bad time to make a major purchase continued to decrease in July from record high levels as the number of those expressing optimism or uncertainty moved higher.

Note: Based on 3-month moving averages.