Albertans' job anxiety plummets, according to RBC Canadian Consumer Outlook
Nearly eight-in-ten Albertans are paying for the holidays with money on hand, not debt
When it comes to financing their holiday shopping, nearly eight-in-ten Albertans (79 per cent) say they will pay for the holidays with money on hand, among the highest levels in country, and compared to the national average of 75 per cent. Three-in-five Alberta residents (62 per cent) say that they are not planning to shop for post-holiday deals in January, compared to 58 per cent nationally.
"Albertans are feeling more secure about their jobs and more optimistic about their future personal finances, which should bode well for consumer confidence in 2010," said Bruce MacKenzie, regional president, Alberta and the Territories, RBC. "We at RBC continue to advise our clients to build a solid financial plan that will help them achieve important goals like reducing debt, purchasing a home or saving for their kids' university tuition."
The report also measures Canadians' perception of current conditions compared to three months ago, as well as short term (three month) prospects for their personal finances and a number of other factors. Provincial highlights include:
- Personal Financial Situation (Overall): Albertans are the most optimistic about their personal financial situation outlook, with 41 per cent expecting improvement over the next three months (compared to 30 per cent nationally) and 49 per cent expecting improvement over the next year (compared to 43 per cent nationally). - Local Economy: Respondents from Alberta are significantly more positive about their local economy compared to three months ago. In December, 33 per cent said conditions were better versus 18 per cent the previous month. Their outlook for the next three months is the most positive in the country, with 42 per cent expecting improvements compared to the national average of 29 per cent, and up from 36 per cent in November. - National Economy: Albertans are slightly more likely (54 per cent) than average (51 per cent) to say that the overall state of the Canadian economy is good, while 46 per cent describe it as bad. Albertans perceive the greatest increase in the national economy compared to three months ago, with 42 per cent saying it has improved, versus the national average of 33 per cent. They are also the most optimistic about its direction over the next year (68 per cent expecting improvement compared to the national average of 60 per cent).
"While we expect that Alberta will start the year slowly, our current forecast for growth is 2.4 per cent in 2010 before accelerating to 4.4 per cent in 2011," said
About The RBC Canadian Consumer Outlook Index
The RBC Canadian Consumer Outlook Index, benchmarked as of
For further information: Rina Cortese, RBC Corporate Communications, (416) 974-6970; Gillian McArdle, RBC Media Relations, (647) 400-8464
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