Canadians still worried about the economy

Consumer confidence plunged in September

A new survey by RBC suggests that consumer confidence dropped in September as a result of uncertainty over the strength of the economic recovery. More than half of Canadians say they are focusing on paying down personal debt. The survey also found that only 60 per cent think the overall economic outlook is good—a drop of seven points from the previous quarter. Since then, more people have also become worried about their jobs, and less than half of those surveyed think the domestic economy will improve. RBC chief economist Craig Wright says “the uncertain and uneven global economic outlook has not gone unnoticed by consumers, translating to heightened anxiety and weaker confidence.”

CBC News

Looking for more?

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