Canadian consumers re-evaluate risk

Considering everything, would you say that your family is better or worse off financially than six months ago? This is the first question the Conference Board of Canada asks in its survey of consumer confidence. With gas prices at $1.50 a litre in many communities, who could provide a positive response? Rising fuel prices hit home fast. They have an immediate and negative impact on household finances. This report was published by BCREA's Chief Economist - Cameron Muir

More than 2000 Canadian households participate in the monthly survey, which forms the foundation of the Consumer Confidence Index. In late June the index for British Columbia fell below 100 for the first time in five years, to 94.3. The index for Canada was worse, falling to a 13 year low of 79.6. Just 32.6% of those surveyed said now was a good time to make a major purchase, more than half (54.9%) said now is not a good time to make a major purchase. Read the rest of this entry »