Canadian Confidence Index Increases for Third Straight Week

The Bloomberg Nanos Canadian Confidence Index (CCI), a composite measure of Canadians financial health and economic expectations, rose for a third-straight week to 54.2 on Friday (12/18), almost exactly where it was in mid-March when widespread restrictions were imposed to limit the spread of Covid-19. According to the report optimism is brewing as Canada accelerates its immunization program. The country said last week it had secured more than 400,000 early doses of two Covid-19 vaccines part of the governments push to inoculate as many Canadians as possible against the virus before the end of the year. Sentiment around the economy and job security strengthened, an indication the positive vaccine news is offsetting more negative developments.