Canadian Consumer Confidence Falls Again, Now Lower than in 2011 and 2010
The overall index, benchmarked in November of 2009, now sits at 79 points, down from 93 points a year ago and 106 points in January of last year. The overall index is comprised of three sub-indices which assess Canadians opinions on various measures of the current state of the economy, their expectations and outlook, and their attitudes towards their investments and markets:
The latest changes to the overall index represent a number of increases in the sub-indices:
- The current conditions sub-index is down 16 points since January 2011 and now sits at 89 points.
- The expectations sub-index has decreased by 17 points since last year to 63 points.
- The investment index is also down by 17 points since January 2011 to its current standing of 83 points.
Despite the mixed outlook for the next twelve months, six in ten (58%) Canadians believe the economy is in good shape (3% very good/55% somewhat good), down only 2 points from 60% in January 2011.
Other findings from the latest RBC Canadian Consumer Outlook poll reveal that more than half of Canadians (53%, up 1% from January 2011) have delayed major purchases such as buying a car, buying household appliances or vacation spending on account of the current economic conditions.
Jobs outlook
Compared to last year, job anxiety has held steady, with 21% of Canadians reporting that they or someone in their household is worried about losing their job or being laid off (20% in January 2011). Job anxiety is highest in Ontario at 26%; and lowest in Saskatchewan and Manitoba at 11%. Job anxiety has fallen most in Alberta, where only 15% are now concerned compared with 19% in January 2011. In fact, half of Canadians (50%) think that the province of Alberta is creating the most jobs in Canada right now, followed by Ontario (22%) in a distant second, Saskatchewan (9%), B.C. (7%) and Quebec (6%).
Personal finances
When it comes to personal finances, only one in three Canadians (36%) believes that their own financial situation will improve in the next year, compared to 23% who think it will worsen. Taking matters into their own hands, a strong majority of Canadians (90%) intend to take steps over the next year to improve their financial situation. As with previous years, three in ten intend to focus specifically on reducing their debt (31%) or just spend less (31%). One in five Canadians believes they will save or invest more this year, and a quarter (23%) say they will take all of these measures this year in an effort to improve their personal finances.
These are some of the findings of an Ipsos Reid poll conducted in January 9 to 16, 2012, on behalf of RBC. For this survey, a sample of 4,479 adults from Ipsos' Canadian online panel was interviewed online. Weighting was then employed to balance demographics and political composition to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. A survey with an unweighted probability sample of this size and a 100% response rate would have an estimated margin of error of +/-1.5 percentage points, 19 times out of 20, of what the results would have been had the entire population of adults in Canada been polled. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
For more information on this news release, please contact:
Sean Simpson
Associate Vice President
Ipsos Reid
Public Affairs
416.572.4474
[email protected]
Nick Allen
Research Manager
Ipsos Reid
Public Affairs
416.572.4488
[email protected]
About Ipsos Reid
Ipsos Reid is Canada's market intelligence leader, the country's leading provider of public opinion research, and research partner for loyalty and forecasting and modelling insights. With operations in eight cities, Ipsos Reid employs more than 600 research professionals and support staff in Canada. The company has the biggest network of telephone call centres in the country, as well as the largest pre-recruited household and online panels. Ipsos Reid's marketing research and public affairs practices offer the premier suite of research vehicles in Canada, all of which provide clients with actionable and relevant information. Staffed with seasoned research consultants with extensive industry-specific backgrounds, Ipsos Reid offers syndicated information or custom solutions across key sectors of the Canadian economy, including consumer packaged goods, financial services, automotive, retail, and technology & telecommunications. Ipsos Reid is an Ipsos company, a leading global survey-based market research group.
To learn more, please visit www.ipsos.ca.
About Ipsos
Ipsos is a leading global survey-based market research company, owned and managed by research professionals. Ipsos helps interpret, simulate, and anticipate the needs and responses of consumers, customers, and citizens around the world.
Member companies assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media. They measure public opinion around the globe. Ipsos member companies offer expertise in advertising, customer loyalty, marketing, media, and public affairs research, as well as forecasting, modeling, and consulting. Ipsos has a full line of custom, syndicated, omnibus, panel, and online research products and services, guided by industry experts and bolstered by advanced analytics and methodologies. The company was founded in 1975 and has been publicly traded since 1999. In 2010, Ipsos generated global revenues of e1.140 billion ($1.6 billion U.S.).
Visit www.ipsos-na.com to learn more about Ipsos offerings and capabilities.
Ipsos, listed on the Eurolist of Euronext - Comp B, is part of SBF 120 and the Mid-100 Index, adheres to the Next Prime segment and is eligible to the Deferred Settlement System. Isin FR0000073298, Reuters ISOS.PA, Bloomberg IPS:FP
