Canadian Consumer Confidence Hits New Record High in Latest Bloomberg Nanos Research Group Polling

According to the latest Nanos Research Group polling, conducted on behalf of Bloomberg News, Canadian consumer sentiment reached a new record high in the week ending July 2nd, 2021. The Bloomberg Nanos Canadian Confidence Index jumped to 66.4 last week, the highest reading since surveys began in 2008. The gauge has historically averaged around 56 and had never broken the 63-barrier mark until recently. The optimism is being driven by a favorable outlook for the economy and growing job security. After a rough stretch in April and May, the result of a springtime surge in COVID-19 cases, the Canadian economy is expected to rebound sharply in the coming months to pre-pandemic levels as consumers, and potentially business ramp up spending.