Canadians' confidence in the economy at two-year low

Overwhelming majority sees no improvement in the next six months

Canadian confidence in the economy has hit a two-year low, a new survey shows. Pollster Nik Nanos says economic chaos in Europe and the United States have combined to drive pessimism among Canadians. Only 16 per cent of those surveyed believe the economy will improve in the next 6 months. Respondents in Ontario and Quebec were the gloomiest. Those in the Prairies were the most upbeat. The survey, of 1,209 Canadians, has a margin of error of plus or minus 2.8 per cent. “[Politicians] have to be very careful from a straight economic perspective of this becoming a self-fulfilling prophecy,” Nanos told the Globe and Mail. “If people think that the economy is going to actually see another downturn – that we might see a double-dip – they start saving money and stop spending money and that has an effect on the economy on the consumer side. That’s the risk.”

Globe and Mail

Looking for more?

Get the Best of Maclean's sent straight to your inbox. Sign up for news, commentary and analysis.