Consumer Confidence Near Record High in Canada

At the end of 2017, consumer confidence in Canada was at record levels due to strong housing markets, booming job markets, and an end-of-the-year hike in commodity prices. The exuberant mood is not expected to let up any time soon. Polling of a wide range of households shows across the board gains in everything from the outlook for housing to job security. The Bloomberg Nanos Canadian Confidence Index weighed in at 62.2 for the last week of 2017, the highest level since the last week of 2009. Household spending is carrying Canada’s economy as it has for years. With such strength in the economy, now is a good time to consider immigration to Canada. Canadian Visa Expert can assist you in the application process.

There are a lot of reasons for consumers to remain optimistic in 2018. The unemployment rate fell to below six percent. That is a first since 2008 and one of the lowest rates over the past forty years. Companies have added close to 400,000 jobs in Canada over the past year. Average hourly wages are accelerating. The housing market has proven strong even with higher borrowing costs. One more reason for optimism is rising stock prices and the Canadian dollar strengthening, which has boosted purchasing power. Energy producing regions are being boosted by oil prices on the rise. The prairie provinces are seeing the highest levels of consumer confidence since 2014. These reasons show one more positive about relocating to Canada. Contact Canadian Visa Expert for all the information you will need to make it a possibility.

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