Canadian consumer confidence remains robust, despite the recent turmoil in financial markets, the Conference Board of Canada said on Friday. The board's index of consumer confidence rose 0.9 percent in August to 99.5, well above its two-year average.
According to the monthly survey based on 2,000 telephone interviews. Regionally, consumer confidence rose in Atlantic Canada, Ontario, and the Prairie provinces, while British Columbia and Quebec both saw declines.
The August survey showed that 23.8 percent of Canadians felt their family's financial position was better than six months ago, down from 25.6 percent in July. But the number who thought their family would be better off in six months rose to 31.7 percent from 29.7 percent in July.
Those who thought they would be worse off in six months fell to 8.8 percent, from 10.5 percent. The board said the number of Canadians who thought there would be more jobs in their local market in six months rose to 23.2 percent, from 21.7 percent, while the number who thought it would worsen fell to 16.3 percent from 17.6 percent. Those thinking it was a good time to spend on big ticket items dipped slightly to 50.1 percent, from 50.5 percent.
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