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Albertans cautious about economy: Poll
Rising interest rates are weighing on Alberta consumers, who are growing more cautious about the strength of the economic rebound, a new survey shows.
Overall confidence levels remain positive, according to the poll conducted for PricewaterhouseCoopers LP by Leger Marketing and provided to the Herald. But half of respondents also say they have changed their spending as a result of the economic slowdown, a sign of concern over the impact of higher borrowing costs on personal debt loads.
"Consumers are starting to take a look at what (higher) interest rates do to their spending habits," said Ian Gunn, Calgary-based partner of PwC`s private company service practice.
Among the most cited change was cutting spending at 77 per cent, while 58 per cent also said they shopped more sales.
Using cash instead of credit came in next at 41 per cent, followed by paying down debt faster at 35 per cent.
The fluctuation in confidence levels follows the uneven pace of the economic recovery in Alberta, said one economist, pointing to signs of a cooling housing market and a lack of consistent job gains.
Read the full article here.
Rising interest rates are weighing on Alberta consumers, who are growing more cautious about the strength of the economic rebound, a new survey shows.
Overall confidence levels remain positive, according to the poll conducted for PricewaterhouseCoopers LP by Leger Marketing and provided to the Herald. But half of respondents also say they have changed their spending as a result of the economic slowdown, a sign of concern over the impact of higher borrowing costs on personal debt loads.
"Consumers are starting to take a look at what (higher) interest rates do to their spending habits," said Ian Gunn, Calgary-based partner of PwC`s private company service practice.
Among the most cited change was cutting spending at 77 per cent, while 58 per cent also said they shopped more sales.
Using cash instead of credit came in next at 41 per cent, followed by paying down debt faster at 35 per cent.
The fluctuation in confidence levels follows the uneven pace of the economic recovery in Alberta, said one economist, pointing to signs of a cooling housing market and a lack of consistent job gains.
Read the full article here.