Canadians have grim outlook on economy, personal finances: poll
Posted March 7, 2023 11:57 am.
Last Updated March 7, 2023 4:06 pm.
A relatively new index that tracks how Canadians feel about the economy and their personal finances is painting a fairly grim picture of an anxious, cash-strapped nation.
The 2023 Canadian Maru Household Outlook dropped by two points in March, back to where it was in October 2022 and tied for the lowest rating since the index began tracking in April 2021.
What led to the pessimistic outlook?
The new poll found that more Canadians (66 per cent) believe the state of the economy is on the wrong track compared to just 34 per cent who feel it’s moving in the right direction.
That’s just the tip of the bad news iceberg.
Fewer Canadians believe their personal finances have improved since last month, or that they will have enough cash and saving for the future.
If confronted by an unexpected cost, less Canadians believe they would have more two months of savings to deal with it.
And fewer have confidence to invest in the markets.
What about the bright side? There is one, but it pales in comparison to the barrage of ugly sentiment.
The poll had but one positive note, finding that less Canadians believe they will lose their job or be laid off because of a lack of business or work in comparison to last month.
The index, which has a base of 100, now sits at 85.
It was at its highest ever level in July 2021 when it topped 107.
You can dig deeper into the poll and its findings here.
