WINNIPEG, Dec. 29 /CNW/ - The Harris/Decima-Investor's Group Index of
Canadian Consumer Confidence held its ground for most of the past year,
following an early year upswing.
The overall measure was steady for the last half of the year after
reaching a post-recession high of 89.0 in February. Slight declines to
85.9 in the second quarter and 82.4 in the third quarter followed
before the index leveled off and remained consistent through the rest
of the year by closing at 82.8 in November.
In Atlantic Canada, the year started on a high note with the index
reaching 91.1, exceeding the national numbers. The following quarter
saw a larger drop in Atlantic Canada than elsewhere in the country,
with the 2nd quarter index falling to 80.9. However, the remainder of year saw a
period of relative consistency in the region. In the third quarter,
the index was 80.6, followed by an index of 80.3 in the final quarter.
Interestingly, the index in Quebec remained above the national average
for all of 2010. Consumers in Quebec started the year quite confident,
with the index hitting 92.0 in February. The decline in quarter two
was less pronounced than other regions in the country, with the index
dropping to 87.0. Consumer confidence in Quebec experienced a rebound
in the third quarter, rising to 89.6, before dropping again to 84.7 in
Ontario consumers had an up and down year in terms of consumer
confidence. In the first quarter of 2010, the index in Ontario stood
at 86.5. While other regions experienced sharper drops in the second
quarter, confidence in Ontario remained relatively steady at 85.9. By
the third quarter, the index had fallen to 76.8, before closing the
year up at 81.5 in the final quarter.
Residents of Manitoba and Saskatchewan had a strong year, confidence
wise. In the first quarter, the index stood at 91.0, above the
national average. This trend would continue all year long, with the
index in these provinces remaining above what was recorded nationally.
The index nudged upwards ever slightly in the second quarter to 91.7.
By the third quarter, the index had dropped 85.8, however by the 4th quarter the index was on the rise again to 88.3.
Consumer confidence in Alberta remained relatively consistent in 2010.
In the first quarter, the index stood at 89.6. The drop experienced in
the second quarter was relatively mild, with the index standing at
87.1. The index remained relatively consistent over the final quarter,
closing at 86.2.
Confidence was lowest in British Columbia this past year. As the year
began, the index stood at 88.3 in BC, before falling to 81.2 in quarter
two. The index dropped slightly again in the third quarter to 78.5,
before remaining consistent throughout the remainder of the year,
closing at 78.4 in the final quarter.
According to Senior Vice-President Doug Anderson "Nationally, this year
has seen Canadian consumer confidence dip for two consecutive quarters
before stabilizing to end the year and remains well above American
consumer confidence levels. However, this national assessment masks the
diversity of confidence levels and trends we see regionally. The
Prairies continue to be the most bullish, while confidence in Ontario
and Quebec is moving in opposite directions lately. While Quebec's
optimism closed on a decline, Ontario's saw the largest single increase
of any region throughout the year. "
"Canadians appear to show continued confidence in the long term outlook
for the economy as well as their own personal financial situation,"
said Jack Courtney, Assistant Vice-President, Advanced Financial
Planning, at Investors Group. "We believe that setting long term goals
and developing a plan to achieve them is the best approach to financial
Each week, Harris/Decima interviews just over 1000 Canadians through
teleVox, the company's national telephone omnibus survey. For each
wave of the Harris/Decima and Investors Group measure of consumer
confidence, data was collected over two weeks for just over 2,000
completes, and a margin of error of 2.2% 19 times out of 20. In 2010,
waves were conducted in February, June, August and November.
SOURCE Investors Group Inc.
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