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Bloomberg Nanos Weekly Consumer Confidence Tracking

Ontario hits a new 30-month high in consumer confidence

Consumer confidence remains in positive territory. Of note, consumer confidence in Ontario, a keystone province in Canada’s economy has hit a 30-month high.

Nik Nanos

Chief Data Scientist


The BNCCI, a composite of a weekly measure of financial health and economic expectations, registered at 56.71, compared to 55.75 four weeks ago. The twelve-month high stands at 56.74.


The Bloomberg Nanos Pocketbook Index is based on survey responses to questions on personal finances and job security. This sub-indice was at 56.06 this week compared to 55.27 four weeks ago. The Bloomberg Nanos Expectations Index, based on surveys for the outlook for the economy and real estate prices, was at 57.36 this week compared to 56.24 four weeks ago.


The average for the BNCCI since 2008 has been 55.31 with a low of 37.08 in April 2020 and a high of 66.42 in July 2021. The index has averaged 53.18 this year.

Methodology

The BNCCI is produced by the Nanos Research Corporation, headquartered in Canada, which operates in Canada and the United States. The data is based on random telephone interviews with 1,000 Canadian consumers (land- and cell-lines), using a four week rolling average of 250 respondents each week, 18 years of age and over. The random sample of 1,000 respondents may be weighted using the latest census information for Canada.


The interviews are compiled into a four week rolling average of 1,000 interviews where each week, the oldest group of 250 interviews is dropped and a new group of 250 interviews is added. The views of 1,000 respondents are compiled into a diffusion index from 0 to 100. A score of 50 on the diffusion index indicates that positive and negative views are a wash while scores above 50 suggest net positive views, while those below 50 suggest net negative views in terms of the economic mood of Canadians.

 

A random telephone survey of 1,039 consumers in Canada is accurate 3.1 percentage points, plus or minus, 19 times out of 20. This report is based on the four waves of tracking ending November 1, 2024. 

Bloomberg Nanos Canadian Consumer Confidence Index

Data Summary for November 1, 2024

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Nik Nanos,
Chief Data Scientist
 
email: nik@nanos.co 
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