Consumer confidence on the rise
Consumer confidence on the rise: Harris-Decima poll Last Updated: Monday, February 23, 2009 | 11:23 AM ET Comments3Recommend15 CBC News A Harris-Decima poll suggests Canadian consumer confidence is on the rise, finding 27 per cent of those polled predict they'll be better off a year from now, against 13 per cent who expect to be worse off in early 2010. Of those polled, 41 per cent believed now is a good time for a major purchase compared to 35 per cent in December. Harris-Decima said confidence hasn't been this high since August. "Some Canadians appear to be seeing light at the end of the economic tunnel," said Harris-Decima senior vice-president Jeff Walker. The results seem a little counterintuitive on a day when Statistics Canada reported December retail sales sagged 5.4 per cent — the steepest monthly tumble in more than 15 years. Most of the decline, however, was in car sales. Excluding the automotive sector, retail sales were down 1.8 per cent. "Restored consumer confidence is an important factor in any potential economic recovery," said Debbie Ammeter, a vice-president at mutual fund operator Investors Group. "It is interesting to note that Canadians seem to recognize that things could be difficult for most of this year but yet there appears to be more who believe that they will be better off a year from now." The Harris-Decima poll surveyed 2,000 people and claims a 95 per cent likelihood of accuracy within 2.2 percentage points.
