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Canadian consumer confidence down again

Staff Writer |
Canadian consumer confidence slid for the second week as the share of those expecting the country’s economy to shrink reached a nine-month high.

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The Bloomberg Nanos Canadian Confidence Index fell to 56.3 from 56.5 a week earlier, driven by weakness in the sub-indicator measuring expectations for the overall economy.

The share of those expecting a contraction in the next six months rose to 32.1 from 30, the highest level since April. The share of those expecting the economy to strengthen fell to 20.8 from 23.

The latest round of polling found improved sentiment on housing. The share of those expecting real estate values in their neighborhood to rise over the coming six months increased to 37.3 percent from 35.9.

The share who say their job is at least somewhat secure edged up to 68.4 from 68.3 a week earlier, the highest level since June of 2016.

Those who say their personal finances have improved over the past year rose to 17.1 percent from 15.7 percent a week earlier, while those who say their finances worsened edged up to 26.8 from 26.6. The share of those expecting no change fell to 54.6 from 56.1.

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