Canadian Confidence Index Rises to Highest Level Since January 2018 in Week Ending March 5, 2021
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Vaccine, Housing Drive Canada Consumer Confidence to 3-Year High
Vaccine, Housing Drive Canada Consumer Confidence to 3-Year High
According to the Bloomberg Nanos Canadian Confidence Index (CCI), which is a gauge of household sentiment, Canadian consumer confidence rose to its highest level since January 2018, amid optimism that an accelerated vaccine rollout will soon bring an end to the Covid-19 health crisis. The CCI jumped to 60.5 for the week ending March 5, 2021 from 59.4 the previous week. The gauge was hovering at around 56 before the pandemic, which is also its average since weekly polling started in 2013. The increase in sentiment was broad based with all provinces posting gains. Positive responses about job security, personal finances, and optimism for the housing market led the CCI higher.
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