August 13, 2009

Poll: Canadians more confident in economy

A growing number of Canadian consumers are feeling more positive about the country's economy than six months ago, a poll published in Toronto indicates.

The open-ended TNS Canadian Facts' Consumer Confidence Index for August rose 6 percent to 99.2 in July, the research agency said in a release Thursday.

The index is a composite of three more specific surveys, which are the Present Situation Index, the Buy Index and the Expectations Index. All three showed marked gains in August, TNS said of its poll of 1,015 adults across the country Aug. 3-6.

TNS Vice President Dr. Michael Antecol said the gains are notable.

Bank of Canada governor Mark Carney declared last month that the recession is over. While unemployed Canadians may not agree with this assessment, the fact is consumer confidence has been trending upward since it fell to an all-time low last December, he said.

Antecol said Canadians are increasingly optimistic, at least those who are employed.

Their battered investment portfolios have recovered somewhat since last fall, housing prices are up in several markets, and the key lending rate is at historic lows, Antecol said.

The poll had a 3.1 percent margin of error, the company said.