Canadian Consumer Confidences Rises for Seventh Week in a Row

The Bloomberg Nanos Canadian Confidence Index is reporting that Canadians confidence in their economy rose for the seventh week in a row to 42.86 last week. Up from a reading of 41 the previous week. Nevertheless, the index remains well below the historical average, as it continues to make its way back from April’s record lows. In the report, Nik Nanos, chief data scientist at Nanos Research said, “Although consumer confidence remains net negative, there are emerging signs in the data of a potential confidence recovery. Perceptions on the future strength of the Canadian economy has improved seven points compared to four weeks ago.”