A quarterly survey of Canadian consumer confidence is at the highest level in nearly three years.
The Investors Group – Harris Decima Index of Consumer Confidence stood at 77.6 in Q1, moving to 79.7 in Q2, 81.2 in Q3, and ends the year at 84.4. It’s the highest reading since the first quarter of 2011.
“The gradual improvement of consumer confidence in Canada appears to reflect the slow-but-steady growth in the Canadian economy,” said Gaetan Ruest, Vice-President, Product and Corporate Research at Investors Group. “This is an encouraging way to wind up 2013 and look forward to a new year.”
If the US continues to pick up and Canadian survey data remain strong look for the Bank of Canada to introduce a hawkish bias in the first half of the year.
