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Consumer Confidence Sees a Third Consecutive Month of Growth


Title post that reads "Consumer Confidence Sees a Third Consecutive Month of Growth" with an image of an arrow rising upwards.

Consumer Confidence is on the Rise


As we move forward into spring, The Canadian Conference Board announces that Canadian Consumers are generally growing more and more optimistic with almost all response categories growing in positive expectations. This growing confidence is likely due to news of weaker price gains as it was announced inflation cooled to 2.9% in January.


Finances

Optimism towards future finances grew slightly, rising from 15.8% to 16.1% with an additional slight increase in folks expecting no change (from 49.5% to 50.0%). 


Purchases

The view on major purchases showed a small increase (from 9.0% to 11.0%) in the percentage of people thinking now is a good time to buy.


Job Market

It is believed that job prospects will remain relatively the same as we head into the warmer months. Slightly over half of consumers believed that job prospects will remain about the same in the next six months.


Conclusion

This increase in optimism could be a result of the announcement that inflation had cooled to 2.9% in January, therefore consumers are expecting some respite on financial strains. The Conference Board of Canada forecasts that the overnight rate may start falling as early as this spring, with a gradual descent to approximately 2.25% in 2025. 


To read the full article click here. 


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Malahat Valuation Group specializes in business valuation and real estate appraisals to owners of privately owned companies and their professional advisors.


When owners need to leverage, sell or reorganize their assets, we answer the age-old question "What is it worth?".


We provide our clients and their advisors peace of mind by preparing professional valuations that stand up to scrutiny from lenders, the Courts, and the Canada Revenue Agency.


Malahat Valuation Group Inc.

(250) 929-2929



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