TORONTO – BUSINESS – Canadian consumer confidence continues to incrementally erode largely on more negative views on the forward look for the economy and a decline on the reported state of personal finances for Canadians according to Nik Nanos, Chief Data Scientist at Nanos Research.
The BNCCI, a composite of a weekly measure of financial health and economic expectations, registered at 59.76 compared with 61.15 four weeks ago. The twelve month high stands at 66.42.
The Bloomberg Nanos Pocketbook Index is based on survey responses to questions on personal finances and job security. This sub-indice was at 60.91 this week compared to 61.14 four weeks ago. The Bloomberg Nanos Expectations Index, based on surveys for the outlook for the economy and real estate prices, was at 58.62 this week compared to 61.15 four weeks ago.
The average for the BNCCI since 2008 has been 56.53 with a low of 37.08 in April 2020 and a high of 66.42 in July 2021. The index has averaged 62.33 this year.