Deborah Baic/The Globe and Mail
Consumer confidence rose in November, marking the second monthly gain in a row, as Canadians grew more hopeful about their future finances and increased job creation.
The Conference Board of Canada's confidence measure has returned to June levels, though it remains below where it was early this year, the Conference Board of Canada said Wednesday.
The latest reading shows Canadians are more optimistic about future finances now than at any time in the past six months. And the share of people who say their current financial situation is worsening is diminishing.
The findings come as several economic indicators have improved lately, including consumer spending. Retail sales rose in September for the fourth month in a row, Statistics Canada said Tuesday.
Canadians have been fairly pessimistic about job prospects in the past seven months, but that turned around in November. Nearly a fifth, or 20.8 per cent of respondents said they expect more jobs in their communities six months from now. The share who see fewer jobs in the next six months fell to 19.4 per cent; as a result, the balance of opinion was positive for the first time since July.
Opinions diverged among regions. British Columbia, Ontario, and Atlantic Canada all tallied increases, while Quebec and the Prairie provinces registered small decreases.
The survey was conducted between Nov. 4 and Nov. 14.