TORONTO – BUSINESS – The Bloomberg Nanos Canadian Confidence Index continues its slide and the Expectations Sub-indices veered into negative territory (below 50 points on the 100 point diffusion index) for the first time since the summer of 2015. “Negative perceptions on the future strength of the Canadian economy have increased a significant 13 points in four weeks,” said Nanos Research, Chief Data Scientist, Nik Nanos. “The overall confidence index hit yet another 12 month low, largely driven by anxiety about the future strength of the Canadian economy.”
The BNCCI, a composite of a weekly measure of financial health and economic expectations, registered at 54.21 compared with 57.05 four weeks ago. The twelve month high stands at 62.17.
The Bloomberg Nanos Pocketbook Index is based on survey responses to questions on personal finances and job security. This sub-indice was at 60.06 this week compared to 60.91 four weeks ago. The Bloomberg Nanos Expectations Index, based on surveys for the outlook for the economy and real estate prices, was at 48.36 this week (compared to 53.20 four weeks ago).
The average for the BNCCI since 2008 has been 57.02 with a low of 43.28 in December 2008 and a high of 62.92 in December 2009. The index has averaged 57.60 this year.