Consumer confidence ticked upward slightly this month, but remains at recession-era lows according to the Conference Board of Canada.
The Ottawa think tank’s monthly survey showed Canadians largely remain pessimistic about their job prospects and their financial situation.
The index rose 2.5 points to 70.2 from December’s 26-year low reading, but remains at levels consistent with the recessions of the early 1980s and 1990s.
The Conference Board said falling gas prices appeared to raise the spirits of some consumers.
The survey suggests slightly more Canadians felt their families were better off than six months ago, and there was a decline in the number who felt they were worse off.
But the balance of opinion on employment prospects remained bleak in January, with a majority saying they are concerned about the labour market.
For the fourth month in a row, however, there was a slight increase in the number of Canadians who felt now was a good time to make a major purchase, although more—by a margin of two-to-one—still feel it is a bad time.
The telephone survey of 2,000 people was conducted Jan. 8-16, and is considered accurate within plus or minus 2.19% 19 times out of 20.
