Consumer Confidence Declines

CBJ – Canadian consumer confidence took a nosedive in February as concern grows over the prospect of finding jobs.

Residents in Ontario, Atlantic Canada, and Alberta showed the most pessimism. Saskatchewan and Manitoba also have expressed an increase in concern.

The monthly survey by the Conference Board of Canada comes as the impact of lower crude oil prices is being felt through slower economic growth across Canada, outweighing the benefits of lower gasoline prices.

The share of respondents expecting fewer jobs going forward jumped in February, rising to 39.6% from 30%.

At the same time, the proportion of respondents expecting more jobs fell to 7.7% from 9.7%.