Pessimism easing among consumers, poll suggests
Last Updated: Wednesday, June 3, 2009 | 3:55 PM ET
CBC News
Consumer confidence among Canadians has reached its highest level in 15 months, according to a Harris-Decima poll released Wednesday.
The poll, conducted in late May, found that pessimism about the economy for the coming year has dropped significantly. It said 29 per cent of respondents said they expected the economy to get worse next year, as opposed to 59 per cent who said they felt that way in February.
Findings from the poll put the overall confidence index at 78.5, an increase from 67.0 last February and the highest since February 2008, when the index was pegged at 79.
The poll found that the number of Canadians who see good times ahead doubled to 20 per cent from the 10 per cent recorded in February. But 44 per cent of respondents said they do not think business conditions will change in the coming year.
One in four Canadians believed they will be better off a year from now, according to the poll, while 11 per cent believed they will be worse off. About 56 per cent expected to be in the same financial position a year from now.
Jeff Walker, senior vice-president for Harris-Decima, said in a news release that Canadians are beginning to feel slightly better about the economy.
"While many remain unsure about how soon a recovery will happen, there is a growing consensus that it will happen, and that Canada's economic future is bright, much brighter than they felt just a few months ago," Walker said.
The Harris-Decima survey included about 1,000 Canadians who were polled May 21-31. The poll's margin of error is 2.2 per cent, 19 times out of 20.
With files from The Canadian PressShare Tools
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