Canadian Consumer Confidence at Post-Pandemic Levels

The Bloomberg Nanos Canadian Confidence Index, which is a composite measure of financial health and economic expectations, reached a reading of 53.3 last week. The highest level in 8-month, when the coronavirus pandemic caused widespread shutdowns in the hopes of curbing the spread of COVID-19. The index remains below the long-term average. The gain in sentiment is likely reflecting the global optimism that a quick roll out of the vaccine is at hand. Another reason for the improved sentiment is the Canadian stock market in November having its biggest monthly gains since April.