National consumer confidence ended the year 2009 on a stronger footing compared to pre-recession levels, despite having edged down slightly the fourth quarter compared to the third quarter. According to the Conference Board of Canada’s index of consumer confidence, confidence eased slightly in the fourth quarter for the first time in three quarterly periods. The decrease in confidence reflects weakening sentiment about making major purchases.
The balance of sentiment about making major purchases, such as a home or a car, dipped slightly into negative territory in the fourth quarter. It had turned positive in the third quarter for the first time since the first quarter of 2008.
A negative balance of sentiment means more survey respondents said it was a bad time to buy a big-ticket item, such as a home or car, than said it was a good time to do so. This indicator is an important factor underlying the housing market.
The balance of sentiment about job growth prospects continued improving in the fourth quarter of 2008, staying positive for the second consecutive quarter. More survey respondents expect employment to pick up over the next six months, and fewer expect more layoffs.
The balance of sentiment about households’ budgetary outlook softened marginally in the fourth quarter, but remains upbeat. A positive balance of opinion means more households said they expect their household budget to improve in the next six months than said they think it will worsen.
British Columbia
Consumer confidence in British Columbia eased slightly in the fourth quarter of 2009, according to the Conference Board of Canada’s index of consumer confidence. Moderating confidence in the fourth quarter reflects softening sentiment about households’ budgetary outlooks, job prospects, and major purchases.
The balance of sentiment about making a major purchase, such as a home or a car, fell sharply and again turned negative in the fourth quarter. It had turned positive in the third quarter for the first time in two years.
A negative balance of opinion means more survey respondents said that it was a bad time to buy a big-ticket item, such as a home or car, than said it was a good time to do so. This indicator is an important factor underlying the housing market.
Sentiment about job growth prospects deteriorated in the fourth quarter. Although the balance of sentiment about near term job growth remained negative for the seventh consecutive quarter, it remained significantly less negative compared to where it stood at the height of the economic recession.
The balance of sentiment about households’ budgetary outlook stayed upbeat for the third consecutive quarter.
Prairie region
Consumer sentiment in the Prairie region improved for the third consecutive quarter in the fourth quarter of 2009, returning to the pre-recession level recorded in the second quarter of 2008.
Sentiment about making major purchases, such as a home or a car, improved for the fourth consecutive quarter. The balance of sentiment about making major purchases has stayed positive for two consecutive quarters, returning to levels on par with the third quarter of 2007.
A positive balance of sentiment means more survey respondents said it was a good time to buy a big-ticket item, such as a home or car, than said it was a bad time to do so. This indicator is an important factor underlying the housing market.
Sentiment about job growth prospects continued improving, building on significant increases recorded in the previous two quarters. The balance of opinion about job growth has stayed positive for three consecutive quarters, and is also back on par with pre-recession levels.
The balance of sentiment about the outlook for household budgets edged down only marginally in the fourth quarter on 2009 compared to the previous quarter.
Ontario
Consumer confidence in Ontario dipped slightly in the fourth quarter of 2009 after having risen in each of the three previous quarters, according to the Conference Board of Canada’s index of consumer confidence. The slight decline in confidence reflects weakened sentiment about households’ budgetary outlooks and about making major purchases.
The balance of sentiment about making major purchases, such as a home or a car, turned negative in the fourth quarter. In the third quarter, it had turned positive for the first time since the fourth quarter of 2007.
A negative balance of opinion means more households said it was a bad time to buy a big-ticket item, such as a home or car, than said it was a good time to do so. This is an important factor underlying the housing market.
The balance of sentiment about job growth prospects improved compared to the previous quarter, turning positive for the first time since the second quarter of 2006.
The balance of sentiment about the outlook for household budgets stayed positive for the third consecutive quarter in the fourth quarter of 2009, despite having softened slightly.
Quebec
Consumer confidence in Quebec eased in the fourth quarter of 2009 but remains well above levels recorded at the height of the economic recession, according to the Conference Board of Canada’s index of consumer confidence. The decrease in confidence reflects weaker sentiment about household budgets and about making major purchases.
Despite having softened compared to the previous quarter, the balance of sentiment about making major purchases, such as a home or a car, remained positive in the fourth quarter. This represents the third consecutive quarter in which the balance of sentiment about making major purchases stayed positive.
A positive balance of opinion means more households said it was a good time to buy a big-ticket item, such as a home or car, than said it was a bad time to do so. This indicator is an important factor underlying the housing market.
The balance of sentiment about job growth prospects turned positive for the first time since the beginning of 2008.
The balance of sentiment about the outlook for household budgets for the next six months eased in the fourth quarter, but nevertheless remained positive.
Atlantic region
Consumer sentiment improved significantly in the fourth quarter of 2009, continuing its rise above pre-recession levels according to the Conference Board of Canada’s index of consumer confidence for the region. This marked the fourth consecutive increase in confidence.
Sentiment about making major purchases, such as a home or a car, held steady. The balance of sentiment about big-ticket purchases remained positive for the second consecutive quarter.
A positive balance of sentiment means more survey respondents said it was a good time to buy a big-ticket item, such as a home or car, than said it was a bad time to do so. This indicator is an important factor underlying the housing market.
After improving for a fourth consecutive quarter, the balance of sentiment about job growth became positive in the fourth quarter of 2009. This is its first positive reading since the second quarter of 2008.
The balance of sentiment about the outlook for household budgets over the next six months also improved in the fourth quarter. This marks the fourth consecutive quarter in which the balance of sentiment about the outlook for household budgets stayed upbeat.
“Copyright Canadian Real Estate Association. Reprinted with permission.”
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