Toronto, ON, November 18, 2019 – Consumer confidence is one of the key drivers of our economy. Therefore, it’s crucial to ask ourselves, how financially confident are Canadians? In the second edition of the Ipsos poll conducted on behalf of IG Wealth Management, Canadians, despite recording positive confidence levels, feel less confident compared to last year, with the index decreasing three points (from 59 to 56).
Differences in behaviours and attitudes can be found across various segments of the population. Both Newcomers (people who have been in Canada less than 3 years) and Seniors (Canadians aged 65+) recorded higher Index scores than the national average (64 and 66, respectively). Seniors tend to review their finances on a regular basis and to feel satisfied with their financial decisions, while Newcomers, when compared to the average, have more confidence than the average about the future and have lower anxiety about their finances.
An interesting aspect of this year’s results is that Canadians’ confidence is unchanged in areas such as the global and national economy and the stock market. The research also confirms that almost half of Canadians (46%) agree with the statement “I am securing my financial future”. However, nearly half (48%) feel anxious when thinking about their personal finances and 54% are concerned the money they have or will save will not last.
To see detailed results for this study, please consult the report by clicking the link above or at the bottom of the page.
About this study
Research Methodology — The results presented in this summary report are from an Ipsos survey conducted from September 23 to September 30, 2019. A total sample of 2,600 respondents from across Canada participated in the survey. All surveys were conducted online, through Ipsos’ iSay panel of respondents. Weighting was applied to the total sample by age, gender, region and education level to ensure that the composition of the final sample is representative of Canada’s adult population according to the latest census data from Statistics Canada.
Since an online survey is not considered to be probabilistic, Ipsos cannot apply a margin of error to this survey. The precision of non-probabilistic Ipsos surveys is measured using a credibility interval. The credibility interval for a survey of 2,600 respondents is ±2.3 percentage points, 19 times out of 20. The credibility interval will be wider among subsets of the population.
For any additional information regarding this study, please contact:
General Manager, Ipsos Québec
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