Province
Canadian economic optimism is hitting levels not seen in nearly two years, according to a poll released Monday that suggests an increasing number think the economy will gain ground in the next six months.
According to the Nanos Economic Monitor, a quarterly snapshot of the country’s economic mood, Canadians are more confident about the strength of the economy than they were in the spring, with 45 per cent saying they believed the economy would improve in the coming months, up 15 points from May.
“This is the highest level of optimism since November 2007, where the strength rating registered at 49 per cent,” said Nik Nanos, president and CEO of Nanos Research.
That level of optimism is not just felt in isolated pockets which might have been sheltered from the global economic downturn.
A rebounding housing market is behind some of that confidence, according to Nanos, with 50 per cent of respondents saying they believe real-estate values in their communities will stay the same, while 35 per cent think they will increase in six months, up nine points from May.
Sixty-six per cent of respondents said their jobs are somewhat secure and only 16 per cent reported being worried about losing their income, but 34 per cent said they were worse off financially than a year ago.
© Copyright (c) The Province