Consumer Confidence

National consumer confidence ticked lower in May 2024 according to the Conference Board of Canada’s survey-based index of consumer confidence.

Concerning job prospects over the next six months, the number of respondents expecting a decline in job opportunities moved higher as the number of those expecting better conditions fell in May to the lowest level since early 2016.

Regarding expectations for their household budget over the next six months, the number of respondents expressing pessimism over their future financial situation edged up slightly while the number of those who expressed optimism moved lower.

Sentiment about making major purchases, like a home or a car, remains at historically subdued levels across the country. The overall percentage of respondents who thought it was a good time to make a major purchase edged down in May as the number of those who were uncertain moved higher.

Note: Based on 3-month moving averages.