TORONTO, August 13, 2009 - The latest results from TNS Canadian Facts’ Consumer Confidence Index suggest that a growing number of Canadians are upbeat about the prospects for the national economy and employment situation in six months. The overall index now stands at 99.2, up six per cent from July’s 93.4 reading.
"Bank of Canada governor Mark Carney declared last month that the recession is over. While unemployed Canadians may not agree with this assessment, the fact is consumer confidence has been trending upward since it fell to an all-time low last December. The gains that we have observed just in the past month are particularly notable," said Dr. Michael Antecol, vice-president of TNS Canadian Facts and director of the marketing research firm’s monthly tracking study.
Each of the three indices that produce the overall index posted sizeable increases in August. The Present Situation Index, which captures evaluations of the overall state of the current economic and employment situations, reached 83.4 – a jump of 4.3 points from last month’s 79.1. Similarly, the Buy Index, which gauges the degree to which people think the current period is a good time to make major purchases, gained five points – moving from 103.2 in July to 108.3 in August.Finally, and perhaps most importantly, the Expectations Index, which measures consumers’ estimation of the economy, household income and employment in the next six months, posted an eye-popping 8.5 point rise, leaping from 102.6 in July to 111.1 in August.
"Canadians are increasingly optimistic. Their battered investment portfolios have recovered somewhat since last fall, housing prices are up in several markets, and the key lending rate is at historic lows. The current environment is not bad for gainfully employed Canadians with equity in housing and RRSPs, and several years to go before they retire," added Dr. Antecol.
Consumer Confidence Index tracks Canadians’ attitudes about the economy each month and is part of a global study conducted by TNS in 18 countries. Three indices are produced each month to show how confidence in the economy is changing: Present Situation Index; an Expectations Index; and a Buy Index. The Canadian fieldwork is conducted using the firm’s national bi-weekly telephone omnibus service, TNS Express Telephone. A total of 1,015 nationally representative Canadian adults were interviewed between August 3 and 6, 2009. For a survey sample this size, the margin of sampling error is plus or minus 3.1 percentage points, 19 times out of 20.
TNS Canadian Facts (www.tns-cf.com) is one of Canada's most prestigious full-service marketing, opinion and social research organizations.
About TNS
TNS, who recently merged with Research International, is the world’s largest custom research agency delivering actionable insights and research-based business advice to its clients so they can make more effective business decisions. TNS offers comprehensive industry knowledge within the Consumer, Technology, Finance, Automotive and Political & Social sectors, supported by a unique product offering that stretches across the entire range of marketing and business issues, specializing in product development & innovation, brand & communication, stakeholder management, retail & shopper, and qualitative research. Delivering best-in-class service across more than 70 countries, TNS is part of Kantar, the world’s largest research, insight and consultancy network. Please visit www.tnsglobal.com for more information.
Media Contacts:
Dr. Michael Antecol
Vice President
Tel: (604) 668-3306
e-mail: michael.antecol@tns-global.com
David Stark
Vice President, Public Affairs
Tel: (416) 924-5751 x238
e-mail: david.stark@tns-global.com
