Consumer Confidence Increased Slightly But the Proportion of Quebecers Who Feel This is a Good Time to Make a Major Purchase Decreased in March
According to the Conference Board of Canada, the overall Consumer Confidence Index among Québec consumers increased in March 2013 compared to the previous month. After decreasing in February, the Index registered a 1.3-point increase in March to reach 71.2 points. Conversely, the proportion of Quebecers who felt that it was a good time to make a major purchase, such as a property, decreased in March after having increased in January and February, and now stands at 46.4 per cent (see chart below).
In Canada, both the overall Consumer Confidence Index and the proportion of consumers who felt that it was a good time to make a major purchase remained stable in March compared to the previous month, reaching 80.5 points and 41.4 per cent, respectively.
Source: Conference Board of Canada
Details About the Index of Consumer Confidence
The Index of Consumer Confidence is measured by the Conference Board of Canada, which, every month, conducts a survey among Canadian households. As its name implies, the Index measures consumers’ level of optimism regarding the economy. The survey consists of four questions: the first two questions focus on respondents’ perception of their current and future financial situation; the third question concerns respondents’ perception about the short-term employment outlook; and the fourth question measures the proportion of households who think that the time is right to make a major purchase, such as a property or other big-ticket item.
Every month, the Conference Board publishes – for Canada and for each province – a global index (with a base year of 2002) and the four sub-indexes.
The Index of Consumer Confidence and the Resale Market in Québec
Québec‘s resale market is most sensitive to the evolution of the sub-index that measures the proportion of Québec households that feel the time is right to make a major purchase, such as a property. This sub-index is a contemporary and direct indicator of activity on the Québec resale market.