Go Back   This Blue Marble, a Global Current Events Discussion Forum > Main Floor > Economy

Economy Economy discussion forum. Discuss the politics and effects of the general economy and global economic collapse here. Please keep all politics out of the Finance and Investment subforum.

Thread Tools Search this Thread Display Modes
Old 10-25-2009, 10:01 AM   #1
There's no justice - it's just us
leistb's Avatar
Join Date: Sep 2008
Posts: 10,489
Thanks: 1,482
Thanked 3,052 Times in 1,363 Posts
Default Canadians still unsure about economic recovery: survey

Canadians still unsure about economic recovery: survey

Financial Post
October 23, 2009

OTTAWA — Canadians consumers appear reluctant to buy into news of an economic recovery, according to the results a monthly national survey.

"They are listening to the positive news but remain unconvinced that they should start moving on the major-purchase front," TNS Canadian Facts, a marketing and research group, said Friday.

TNS its consumer confidence index slipped to 98 in October from September's reading of 98.7.

"Thinking. Thinking. That's what Canadians seem to be up to when it comes to the national economy," said Michael Antecol, vice-president of TNS Canadian Facts.

"Canadians, for the most part, only seem ready to think about the positive economic news but not ready to act on it."

The group's present situation index, which tracks sentiment about the overall state of the economy and the labour market, eased to 85.5 from 86.5 in September.

TNS Canadian Facts said its buy index, which monitors views on whether now is a good time to make major purchases, fell for the second straight month, dropping 2.4 points to 101.3.

Still, its expectations index — a measure of how consumers see the economy, household income and employment in six months — rose 1.2 points to 111.2 this month.

"With expectations rising but buying on hold, we can expect that pent-up demand will be building among Canadian consumers. Eventually, that demand has to bubble over into action," Antecol said. "True, we've been waiting for this to happen."

TNS said it polled 1,015 Canadians between Oct. 12 and 15. The survey's margin of error is plus or minus 3.1 percentage points, 19 times out of 20.

The survey was released a day after retail sales figures from Statistics Canada showed the value of purchases rose in August by 0.8 per cent, which was much higher than expected and prompted analysts to suggest consumer spending is beginning to pick up as Canada pulls out of recession.

Also Thursday, the Bank of Canada said consumer demand would be key to Canada's economic rebound, estimating that spending by consumers will help lift economic growth to three per cent in 2010 and 3.3 per cent in 2011.

"Consumer spending is expected to grow at a solid pace throughout the projection horizon," the central bank said a report. "Improvements in wealth and in consumer confidence, as well as the re-emergence of demand postponed from previous quarters, will help to fuel spending."

© Copyright (c) Canwest News Service

leistb is offline   Reply With Quote
Old 10-25-2009, 10:57 AM   #2
Climate Change is FAKE NEWS
Join Date: Aug 2008
Posts: 14,444
Thanks: 2,726
Thanked 3,986 Times in 1,877 Posts
Well, I'm unsure about it. DH had his overtime cut in October of 2008, and was laid off for April and May of 2009...steel industry. Around the end of August, he was again allowed to work overtime, up to 8 hours a week. Then, last week, overtime was cut again to 0. It's like a roller coaster, but we are in better shape financially, should he be laid off again.

We made some purchases, but Christmas will be slim again, like last year. I think a lot, even the majority maybe, of Canadians have gone into saving and debt repayment mode. Houses here have not lost any value over the last few years, though, and they are still selling.
Unbelievably, Trudeau 2.0 is far, far worse than Trudeau 1.0
rb. is offline   Reply With Quote

canadians, economic, recovery, survey, unsure

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

All times are GMT -4. The time now is 04:38 AM.

Powered by vBulletin®
Copyright © Jelsoft Enterprises Ltd.