Canadians gloomy about current economic conditions: survey

    TORONTO, March 12 /CNW/ - The latest results from TNS Canadian Facts'
Consumer Confidence Index suggest that Canadians' perceptions of the state of
the economy declined in March after a brief uptick in February. The overall
Consumer Confidence Index now stands at 83.7, which is down from 85.9 last
month.
    "With the troubling economy continuing to dominate our news, it comes as
no surprise that Canadians believe that current conditions are dismal," said
Richard Jenkins, vice-president of TNS Canadian Facts and director of the
marketing research firm's monthly tracking study.
    The Present Situation Index, which captures evaluations of the overall
state of the economy and the employment situation, plunged to 72.1 from 78.2
last month. Only 16 per cent of Canadians think the current economy is at
least fairly good (compared to 59% a year ago) and just 13 per cent think
there are many jobs available today (versus 48% last year).
    On a positive note, Canadians continue to believe that future conditions
will be better than they are today. The Expectations Index, which measures
consumers' estimation of the economy, household income and employment in the
next six months, managed to rise for the third consecutive month to 87.4. In
February the Index stood at 86.5.
    The Buy Index, which gauges the degree to which people think the current
period is a good time to make major purchases, declined somewhat after a
marked improvement in February. The index now sits at 95.3 compared to 95.6
last month.
    "Given the deep pessimism about the economy at this point, it is hard to
escape the conclusion that an economic turnaround will not be possible until
consumers regain their lost confidence. Unfortunately, each month consumers
tend to see the current situation as deteriorating," added Jenkins.
    Consumer Confidence Index tracks Canadians' attitudes about the economy
each month and is part of a global study conducted by TNS in 18 countries.
Three indices are produced each month to show how confidence in the economy is
changing: Present Situation Index; an Expectations Index; and a Buy Index. The
Canadian fieldwork is conducted using the firm's national bi-weekly telephone
omnibus service, TNS Express Telephone. A total of 1,015 nationally
representative Canadian adults were interviewed between March 2 and 5, 2009.
For a survey sample this size, the margin of sampling error is plus or minus
3.1 percentage points, 19 times out of 20.

    TNS Canadian Facts (www.tns-cf.com) is one of Canada's most prestigious
full-service marketing, opinion and social research organizations.

    About TNS

    TNS is a global market information and insight group.
    Its strategic goal is to be recognized as the global leader in delivering
value-added information and insights that help its clients make more effective
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    TNS delivers innovative thinking and excellent service across a network
of 80 countries. Working in partnership with clients, TNS provides
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sector knowledge with expertise in the areas of Product Development &
Innovation, Brand & Communications, Stakeholder Management, Retail & Shopper.
TNS is a major supplier of consumer panel, media intelligence and audience
measurement services.

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    www.tnsglobal.com
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    The Kantar Group

    The Kantar Group is one of the world's largest research, insight and
consultancy networks. By uniting the diverse talents of more than 20
specialist companies - including the recently-acquired TNS - the group aims to
become the pre-eminent provider of compelling and actionable insights for the
global business community. Its 26,500 employees work across 80 countries and
across the whole spectrum of research and consultancy disciplines, enabling
the group to offer clients business insights at each and every point of the
consumer cycle. The group's services are employed by over half of the Fortune
Top 500 companies. The Kantar Group is a wholly-owned subsidiary of WPP Group
plc. For further information, please visit www.kantargrouptns.com.

For further information: Media Contacts: Richard W. Jenkins, Vice
President, Corporate Director, Public Opinion Research, Tel: (613) 301-9398,
e-mail: richard.jenkins@tns-global.com; David Stark, Vice President, Public
Affairs, Tel: (416) 924-5751 x238, e-mail: david.stark@tns-global.com