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Thread: Consumer confidence low!

  1. #1
    Senior Member underground quester's Avatar
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    Default Consumer confidence low!

    Consumer confidence in Canada is at its lowest level in 26 years, says a new report from The Conference Board of Canada.

    22/12/2008 4:13:43 PM

    A shopper wanders a mall in Waterloo, Ont., on Sunday, Dec. 21, 2008. The Conference Board of Canada says consumer confidence is at its lowest level in 26 years. News Staff

    The CBoC said its consumer confidence index fell 3.3 points to 67.7 -- the third consecutive monthly decline.

    "On a monthly basis, the index has now dropped significantly below early 1990s levels. Only during the recession of 1981-82 have we seen lower levels of confidence," Glen Hodgson, CBoC's senior vice-president and chief economist, said in a press release.

    "Despite the rapid fall in gasoline prices across the country, consumers continue to be gloomy about their financial situation."

    The report shows consumers indicated they were financially worse off now than six months ago. They also said they expect to be worse off six months from now.

    "There has been so much bad economic news from the U.S., and it is such a serious situation there, it's obviously rattled Canadians," BNN's Linda Nazareth told CTV Newsnet on Monday.

    Respondents also said they had a negative view of the job situation in their communities.

    Nazareth said management is looking at ways to cut costs even in industries that are doing well.

    "Until we get beyond that mindset -- which is going to take six, nine, 12 months -- I don't expect consumers to get a lot more upbeat," she said.

    Most economists predict Canada's unemployment rate could rise from its current level of 6.3 per cent to about eight per cent.

    Still, Nazareth said those levels are nowhere near the rates in the 1980s and the early 1990s of 11 and 12 per cent.

    The report does have one bright spot as an increasing percentage of respondents said now was a good time to make a big-ticket purchase.

    Across Canada, confidence fell in all regions with the highest drop -- 7.8 points -- in Atlantic Canada.

    The survey of 2000 Canadians was conducted between December 4 and 12.

    Can you believe someone gets paid to put this crap out?
    Consumer confidence at its lowest level since 1980...WELL, NO SHIT SHERLOCK! The press always makes me laugh!
    Success is a journey, not a destination...

  2. #2
    Senior Member yahoo's Avatar
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    Default Re: Consumer confidence low!

    hey UGQ................look in the classifieds for me dude and see if they are hiring??? hahhahahaahhaahah
    wise men talk because they have something to say and fools because they have to say something....plato

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