TORONTO, Jan. 19, 2012 /CNW/ - Canadian consumers are willing to take a
fresh and more optimistic view of the economy and their prospects as we
enter 2012, according to the latest consumer confidence survey
conducted by TNS Canada. After dropping to 95.0 in December, the TNS
Canadian Consumer Confidence Index rose sharply in January to 98.6, the
highest it's been since July of last year.
"Canadians are entering 2012 with a renewed sense of optimism about the
economy," said Norman Baillie-David, Vice President of TNS Canada and Director of
the Marketing and Social Research firm's monthly tracking study. "As we enter a new year, Canadians have decided, at least for now, to
ignore the dire news headlines coming from the US and Europe and to
think that 2012 will be a good year for the economy."
The Present Situation Index, which measures how people feel about the economy right now, dropped
slightly in December to 92.9 and then rebounded five (5) full index
points to 97.9. This indicates that despite continuing gloomy economic
news and uncertain prospects, Canadians are looking around and saying
to themselves: "I don't know about anyone else, but I'm feeling OK about my own
situation right now."
The Expectations Index, which measures people's outlook for the economy six months from now
also rose sharply, from 99.2 in December to 102.9 in January, the
highest it's been since July of last year. "Canadians want to believe that 2012 will be a good economic year, and
are reflecting that in a renewed sense of optimism," added Mr. Baillie-David. "Time will tell if the optimism will result in better economic
performance, or if it's just wishful thinking."
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, is perhaps the most important of the sub-indices,
because if people feel now is a good time to buy, they may act on it,
which will provide the real economic stimulus. The Buy Index also rose, although not quite as sharply as the other indices, from
93.8 in December to 95.2 in January.
All in all, our Consumer Confidence Index is showing a good news story.
We just hope it proves to be more than the optimism of a new year and
carries forward to our survey next month.
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 January 9 and January 13, 2012. 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.
TNS Canada (formerly known as TNS Canadian Facts) is the Canadian arm of TNS. 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.
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.
For further information, please visit us at www.kantar.com
SOURCE TNS Canadian Facts
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