Just in time for the crucial holiday shopping season, the latest report shows Canadian consumer confidence is up for the first time in 2012.
The survey revealed that nearly two-thirds of Canadians believe the economy is growing, marking the highest reading since July 2011.
“If you’re feeling better off than you were a year ago, it’s going to translate into more confidence in the marketplace and higher spending,” explained Jack Bensimon, the President of Bensimon Byrne – the firm behind the report. “If you’re feeling worse off than a year ago, it’s going to be a drag on consumer spending.”
Across the country, confidence grew in all provinces except for Quebec. B.C. saw an 18 per cent spike, but Bensimon said that could be a statistical anomaly.
Confidence remains the highest in the prairie provinces.
Canadian consumer confidence up for first time in 2012: Survey
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