Consumer confidence fell sharply in March in most of the country as Canadians grew more worried about their finances, the Conference Board of Canada said today.
In its monthly report, the Conference Board said consumer confidence fell to 83.7 from 89.3 in February, a level lower than March 2010, but higher than six months ago.
The board said attitudes towards current finances were “worrisome,” as about a quarter of Canadians–2.4 points more than last time–said their finances had worsened over the last six months.
Canadians are growing more optimistic since the recession, but answers to the current finances question have stayed negative for 30 straight months.
Less than 1% more people said their finances got better, compared with those surveyed in February.
One in five Canadians said they expect their finances to worsen in the next six months.
Confidence fell in four out of five regions, with Quebec showing the only increase. Ontario saw the largest drop, bringing it to the lowest level in the country.
The survey was conducted between March 4 and 13, and has a margin of error is plus or minus 2.2%.
