2022 IG Financial Confidence Index: Canadians’ confidence is trending downward, amid economic turmoil

Toronto, ON, November 9, 2022 — Nearing the end of a tumultuous year, Ipsos is pleased to release the seventh edition of the IG Financial Confidence Index. Results for this 2022 wave of research trend downward after two years during which Canadians have shown surprising resilience as they were hit with a once in a lifetime pandemic that upended their lives. Lower Index scores for 2022 mostly reflect pessimistic views of Canadians regarding the current and future state of the economy.

Results from the 2021 Financial Confidence Index research had shown that Canadians were seeing darker clouds on the horizon for the year ahead, fueled by worries about inflation and its impact on affordability. It turns out they had good reasons to be concerned in light of higher inflation experienced 2022 and growing concerns about a recession.

Despite the negative outlook regarding the Canadian economy, results of the 2022 Financial Confidence Index research demonstrate once again that sound financial planning and use of professional advice lead to stronger financial confidence, helping reduce the stress caused by negative economic news.      

To see detailed results for this study, please consult the report by clicking the link included at the bottom of the page.

About the Study

The 2022 Financial Confidence Index results presented in this summary report are from an Ipsos survey conducted online from September 13^th to the 27^th, 2022.  A total sample of 2,600 respondents from across Canada participated in the survey. 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 the online portion of the sample 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 more information on this news release, please contact:

Sébastien Dallaire
Senior Vice President, Ipsos Canada

General Manager, Ipsos Quebec
[email protected]

About Ipsos

Ipsos is the world’s third largest market research company, present in 90 markets and employing more than 18,000 people.

Our passionately curious research professionals, analysts and scientists have built unique multi-specialist capabilities that provide true understanding and powerful insights into the actions, opinions and motivations of citizens, consumers, patients, customers or employees. We serve more than 5000 clients across the world with 75 business solutions.

Founded in France in 1975, Ipsos is listed on the Euronext Paris since July 1st, 1999. The company is part of the SBF 120 and the Mid-60 index and is eligible for the Deferred Settlement Service (SRD).

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