Nanos Poll Finds Canada Consumer Confidence Rises on Real Estate
Canadian consumer confidence rose for the first time in three months in December as homeowners became more certain about the value of their properties, according to a Nanos Research poll.
The Nanos Economic Mood Index—an aggregate of survey responses on the outlook for the economy, job security, personal finances and real estate—rose to 101.9 in December from 101.0 a month earlier. The index averaged 101.7 over the past six months, compared with 105.8 in the first half of 2012, as the country’s economy stalled.
Data released this month suggest tepid growth for the world’s 11th largest economy in the fourth-quarter. Canada recorded inflation of 0.8% in November, the slowest in more than three years, while gross domestic product rose 0.1% in October after stalling a month earlier.
Measures calculating optimism about housing prices rose to the highest since June, according to today’s Nanos poll. The balance of opinion between those who say they expect real estate values to increase in their neighborhood and those who believe they won’t rose to 20.6 in December from 17.1 in November.
The balance of opinion between those who say the economy will be stronger in the next six months relative to those who believe it will be weaker fell to 2.1 in December from 2.8.
Measures calculating personal finances and employment showed little change from levels that are the worst since the first half of the year. The balance of opinion between those who say their jobs are secure and those who believe they are not rose to 30.6 in December from 29.7 in November, while net perceptions on personal finances fell to -16.3 from -16.1.
The Nanos poll of 1,000 Canadians was taken between Dec. 19 and Dec. 20.