According to the Bloomberg Nanos Canadian Confidence Index, consumer confidence ticked up slightly to 46.2 last week, from 46 a week earlier. That is up almost 10 points from a record low in April, as the country gradually reopens from Covid-19 restrictions, but still hovering at about one-fifth below historical averages. The 10-week rally is the longest since Nanos began weekly tracking in 2013. There is, however, one potential concern, that is that sentiment may be a plateauing at below pre-pandemic levels. The pace of gains in the confidence index has slowed sharply over the past two weeks, with last week’s 0.2-point increase the smallest since May. Overall, Canadians view of their personal finances, the Canadian economy, and job security remains pessimistic.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Consumer Confidence Rises for 10th Straight Week in Canada