TORONTO, Feb. 21, 2013 /CNW/ - Canadian Consumer Confidence fell sharply this month, and was the latest economic indicator to drop
this week*, along with employment, the housing market, and the Canadian
According to the latest consumer confidence survey conducted by TNS, the Canadian Consumer Confidence Index fell sharply
in February, tumbling from 99.1 to 95.5, its lowest level since August.
"Canadians are feeling the effects of a number of adverse economic
developments coming together at the same time. Employment is down, the
housing market has 'cooled off' with fewer home sales, and Canadians
continue to be wary of high debt." explained Norman Baillie-David, Senior Vice President of TNS in Canada
and Director of the Marketing and Social research firm's monthly
"Any one of these can be cause for concern, but with fewer Canadians
working, fewer buying or selling houses, and more holding off on
incurring debt to make major purchases, it's conspiring for quite the
gloomy outlook. In summary, Canadians aren't happy campers about the
economy this month."
The Present Situation Index, which measures how people feel about the economy right now, plunged
almost six full points, falling from 99.8 to 93.9, fuelling the
pessimism that Canadians' are feeling about the situation right now.
The Expectations Index, which measures people's outlook for the economy six months from now,
was the one sub-index which remained relatively stable, dropping only
0.3 points, which in fact should be interpreted as no drop at all in
statistical terms. This shows that although Canadians aren't feeling
good about their personal economic situation right now, they're
adopting a 'wait and see' approach to their future expectations.
The Buy Index, which measures the extent to which Canadians feel that now is a good
time to purchase a "big ticket item" such as a car or a major household
appliance, dropped 3.6 points in February, falling to its lowest point
since October 2010, and showing its largest single month drop in two
"With employment down, the housing market down, and lingering concerns
over debt-levels, Canadians this month have decided they'll put their
wallets away, which unfortunately has the potential to make the
situation worse." continued Mr. Baillie-David.
Full report with charts available at:
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
February 11 and February 14, 2013. For a survey sample of this size,
the margin of sampling error is plus or minus 3.1 percentage points, 19
times out of 20.
About TNS and Kantar
TNS (www.tnscanada.ca) is the Canadian arm of TNS Global. TNS advises clients on specific growth strategies around new market
entry, innovation, brand switching and stakeholder management, based on
long-established expertise and market-leading solutions. With a
presence in over 80 countries, TNS has more conversations with the
world's consumers than anyone else and understands individual human
behaviours and attitudes across every cultural, economic and political
region of the world.
TNS is part of Kantar, one of the world's largest insight, information
and consultancy groups.
Please visit www.tnsglobal.com for more information.
Kantar is one of the world's largest insight, information and consultancy
groups. By uniting the diverse talents of its 13 specialist companies,
the group aims to become the pre-eminent provider of compelling and
inspirational insights for the global business community. Its 28,500
employees work across 100 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.
Please visit www.kantar.com for more information.
For further information:
Norman Baillie-David, MBA, CMRP
(613) 230-4408 x101