CONSUMERS MORE CONFIDENT ABOUT ECONOMY
By Adnews Staff
Canadian consumers are feeling better about the economy than they have in almost two years, according to a study by the Conference Board of Canada. The report shows that an index measuring consumer attitudes rose 5.1 points to 101.4, its highest level since late 1994. But the report also reveals that people are not as confident about their own economic future. Report author Carolyn Kwan attributes that to the fact that many are having to use savings or take out loans to make purchases. The report shows that Quebec, Ontario and the Prairies reported gains in consumer confidence, while the index declined in Atlantic Canada and British Columbia. The percentage of households that felt better off now than they did half a year ago fell 2.2 percentage points from earlier this year to 14.5%. Those expecting to be better off fell to 24.6%. The index of business confidence rose 11.5 points to 149.1.