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October 19, 2020 | Canadian Consumer Confidence Weak, Faith in Realty Prices Unshaken

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

Still missing some 25% of jobs lost in the first shutdown phase, Canadians are feeling less confident as the most populous areas in Ontario and Quebec re-enter Stage 2 restrictions, banning indoor dining, gyms and movie theaters for at least 28 days.

The Bloomberg Nanos Canadian Confidence Index, a composite measure of financial health and economic expectations, dropped more than half a point to 51.9 in the week ended Oct. 16. The third-straight weekly decline and the lowest since mid-August.  See Virus resurgence sends Canadian confidence lower for a third week.

Just 14% of respondents believe the economy will be stronger in the next six months, the lowest level since the end of May.  But, 43% of respondents still expect the value of real estate in their neighbourhood to increase over the next six months.

Less income with higher debt and shelter costs = bad combo.

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October 19th, 2020

Posted In: Juggling Dynamite

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