Despite feeling better about the future of the economy, Canadians are still hesitant when it comes to major purchases, according to TNS Canadian Facts.
The latest Consumer Confidence Index rose to 99.4 in March, from 97.6 in February and 96.7 in January.
Last March, when the recession still had a strong hold, the consumer confidence index was at 83.7. Throughout 2007 and into 2008, the confidence index hovered over 100, reaching as high 110.
The most recent Present Situation Index, which measures the overall state of the current economic and employment situation, rose to 88.9 in March, up more than six points from the month before.
The Expectations Index, which measures consumers views of income and employment in the next six months hit 111.9, regaining more than the 2.7 points it lost in February.
“For months Canadians have heard that the recession was technically over, but until now there was no substantive evidence they were buying into the hype,” said Michael Antecol, vice-president of TNS Canadian Facts, in a release.
If this trend continues, we could soon see the “sustained, consumer-driven economic turn-around we’ve been waiting for.”
TNS conducts its Canadian confidence survey monthly as part of a global study in 18 countries. A total of 1,015 Canadian adults were interviewed between March 1 and 5, 2010.
