Gain in personal finances snaps decline in consumer confidence, board says
OTTAWA — Canadians` improving personal finances have snapped a four-month slide in consumer confidence, the Conference Board of Canada reported Thursday.
The board`s confidence index rose 1.5 per cent in October to a reading of 79.7 per cent, despite weakness in three of the four measures that make up the survey. An even reading for the index is 100.
The gain was apparent across the country, with the exception of the Atlantic region.
"The share of respondents expressing a positive view of their current finances increased dramatically in October," the report said.
When asked if their financial situation had improved over the past six months, 17.5 per cent responded positively, a gain of 4.3 percentage points from September and the highest reading of the year.
The advance comes on the heels of a fall stock market surge that has lifted the TSXcomposite index by more than 13 per cent since early July.
Read the full article here.
OTTAWA — Canadians` improving personal finances have snapped a four-month slide in consumer confidence, the Conference Board of Canada reported Thursday.
The board`s confidence index rose 1.5 per cent in October to a reading of 79.7 per cent, despite weakness in three of the four measures that make up the survey. An even reading for the index is 100.
The gain was apparent across the country, with the exception of the Atlantic region.
"The share of respondents expressing a positive view of their current finances increased dramatically in October," the report said.
When asked if their financial situation had improved over the past six months, 17.5 per cent responded positively, a gain of 4.3 percentage points from September and the highest reading of the year.
The advance comes on the heels of a fall stock market surge that has lifted the TSXcomposite index by more than 13 per cent since early July.
Read the full article here.