Job Perceptions Contribute to Slumping Confidence
The confidence of Canadian consumers fell sharply in the first quarter of 2016, amidst concerns about job prospects.
The Nielsen Global Consumer Confidence Index measures views regarding local job prospects, personal finances and ability and willingness to spend. Nielsen turns those perceptions into a score, with 100 as the baseline; levels above and below that number indicate degrees of optimism and pessimism.
For all of 2015, Canada’s level hovered at just under 100, after being slightly over 100 for most of 2014. In the early months of 2016, that pattern broke as the consumer confidence dropped six index points to 93. Of the 63 countries surveyed, only 10 had a bigger three-month decrease. Canada also lags behind the global average of 98.