Ontarians among the most likely to be shopping for holiday deals in January,
according to RBC Canadian Consumer Outlook
Nearly three-in-four Ontario residents are paying for the holidays with money on hand, not debt
"Ontarians 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
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, job anxiety and a number of other factors. Provincial highlights include:
- Job Anxiety: Job anxiety in Ontario has fallen significantly to 21 per cent (equal to the national average) in December, down from 29 per cent in November. With the exception of British Columbia, where job anxiety is unchanged, job anxiety is down across the country. - Personal Financial Situation (Overall): Four-in-ten Ontarians (43 per cent) think that their personal financial situation is worse than it was three months ago, which is the highest level in the country and well above the national average (38 per cent). Like many Canadians, Ontarians are more optimistic about the longer term, with more than four-in-ten (42 per cent) expecting their personal economic situation to improve over the next year versus 38 per cent in November. - National Economy: Fewer Ontarians describe the current overall state of the Canadian economy as good (45 per cent in December, down from 53 per cent in November), while 55 per cent describe it as bad. Nationally, Canadians are divided regarding the current overall state of the economy, which 51 per cent say is good and 49 per cent say is bad.
"While the beginning of 2010 may still present some challenges for Ontario's economy, we expect the province to experience growth of 2.4 per cent in 2010 before accelerating to 4.0 per cent growth in 2011," said
About The RBC Canadian Consumer Outlook Index
The RBC Canadian Consumer Outlook Index, benchmarked as of
For further information: For further information: Rina Cortese, RBC Corporate Communications, (416) 974-6970; Gillian McArdle, RBC Media Relations, (647) 400-8464
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