Canadian Confidence Index Reaches 16-Month High in February 2020

The Bloomberg Nanos Canadian Confidence Index (CFI), which measures Canadian household sentiment on subjects such as job security, personal finances and their outlook for both the economy and real estate prices, jumped last week to the highest since October 2019. The catalyst for the increased consumer confidence was an easing of COVID-19 restrictions in the provinces of Ontario and Quebec, combined with an ongoing vaccine rollout and hot housing and stock markets. This occurred despite elevated concerns surrounding Covid-19 variants and their spread. Nearly 28% of Canadians think the economy will be stronger in the next six months, the highest share in three years. Sentiment on real estate prices was even stronger.