CONSUMER CONFIDENCE ON THE RISE
By Adnews Staff
Consumer confidence in the economy is returning, according to a survey done for the Royal Bank of Canada. The top spending intention of the year is vacations, with contributing to an RRSP coming in second. Buying furniture and appliances ranks third, followed by investing, childrens' education, personal education, home renovations and buying a computer. Rounding out the list are buying a car, buying a stereo or TV and saving for the care of the elderly. When asked what their first choice is, vacations topped the list, followed by contributing to their children's education, buying a car, contributing to an RRSP and home renovations. Age and income also affect spending intentions for the year. Respondents aged 18 to 34 said they are just as likely to contribute to an RRSP or spend money on personal education courses as take a vacation. Baby boomers picked saving for their children's education as their top priority and people over 55 are more likely than any other age group to buy a car. Residents in Atlantic Canada said their first choice in spending intentions is on RRSPs, while Quebecers are more likely than anyone else to want to save for their own or their children's education and set aside money for elder care. Ontario residents ranked durable goods higher than residents in most other provinces. Residents in Alberta, Saskatchewan and Alberta are the most bullish on buying cars, computers and making investments, while residents of B.C. rank vacations higher than any other Canadians. The survey was conducted by the Angus Reid Group of Toronto.