Consumer confidence in Canada is not imploding to the extent that many pundits have been projecting. Granted, with inflation continuing to run high, September’s overall Consumer Confidence metrics for Canada continue to be mildly negative.
Among the 4 pillars of Consumer Confidence only Current Personal Confidence (the “micro”) continues a downward trend. This, along with other Context tracking we do, suggest that Canada remains in challenging economic waters in the next couple of months.
The trends suggest almost inevitable disruptive consumer behaviour in the near-to-medium-term to some extent (not only in spending but also in socio-political stability).
Ipsos tracks consumer confidence each month, exploring:
- Personal Confidence: How people feel about their personal finances – both today and for the future.
- Economy Confidence: How people feel about the broader economic situation in Canada – both today and in the future
- Current Confidence – a combination of how Canadians feel about both their personal finances and the country’s broader economic situation today.
- Future Confidence – a combination of how Canadians feel about both their personal finances and Canada’s broader economic situation in the future
- Overall Confidence reflects all metrics combined.
In-depth and demographic tracking information is also available. Contact us if you are interested in learning more about our broader Context offer.