CREA News: Consumer Confidence continues to improve

November 10 2009 - National consumer confidence continued to improve for the third consecutive quarter in the third quarter of 2009, according to the Conference Board of Canada’s index of consumer confidence. Consumer sentiment is up from the end of 2008, and now stands above pre-recession levels. The sharp rise in confidence resulted from improved sentiment about households’ budgetary outlook, job growth prospects, and major purchases.......

Quebec
Consumer sentiment in Quebec continued to improve in the third quarter of 2009, with the Conference Board of Canada’s index of consumer confidence back on par with pre-recession levels.

Consumer confidence levels edged lower in October 2009 from the peak in September, back on par with where it stood in August.

The balance of sentiment about making major purchases, such as a home or a car, improved significantly in the third quarter after having returned to positive territory for the first time in more than a year in the second quarter. A positive balance of opinion means more households said it was a good time to buy a big-ticket item, such as a home or car, than said it was a bad time to do so. This indicator is an important factor underlying the housing market.

The balance of sentiment about major purchases was down significantly in October, but remained positive.

The balance of opinion about job growth prospects improved significantly in the third quarter of 2009, coming to rest just shy of positive territory. This was the best result since the first quarter of 2008.

Sentiment about the outlook for household budgets over the next six months also improved in the third quarter, becoming more upbeat than in any other quarter since the fourth quarter of 2007.

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Marlene Ofter

Marlene Ofter

Certified Real Estate Broker
CENTURY 21 Max-Immo
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