Canadian economy: Poll shows most Canadians cautiously optimistic

The proportion of Canadians with a negative view of the economy has dropped by six points compared to the start of the year, a recent survey by Research Co. reveals.

The survey results indicate a positive shift in how Canadians view current economic conditions. However, of the 1,000 Canadians surveyed, more than half (56 per cent) of respondents consider the country’s economic conditions to be „bad” or „very bad”.

The survey data shows a growing sense of confidence in the overall economic outlook. Of the people surveyed, 41 percent of them consider current economic conditions to be „very good” or „good.” That’s a six-point increase from January 2023 in a poll by ResearchCo.

Breaking down the data by region, 42 per cent of British Columbians and Atlantic Canadians have positive views of current economic conditions. Compared to January, that’s seven and 13 points higher, respectively.

Quebec residents are more likely to be optimistic about the state of the country’s economy, with 45 percent (up four points) having a positive attitude, the survey found.

Saskatchewan and Manitoba saw a 15-point increase in those expressing positive views about the Canadian economy, with 43 per cent of them having a positive view, the research firm’s data showed. The rate is lower in Alberta (30 percent) and Ontario (41 percent, up four points).

Among the respondents, 32 percent of them expected a decline in the country’s finances in the next six months. This is down 12 points from January.

Along with the challenges posed by inflation, the survey results underscore prevailing concerns and uncertainties regarding the economic landscape, as only 16 per cent of Canadians surveyed expect an improvement in the country’s finances over the next six months and 45 per cent (up seven points) predict no change.

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When it comes to personal finances, the survey results show 'little’ movement, with more than half of Canadians (52 per cent) saying their personal finances are „very good” or „good” and 46 per cent saying it’s „poor” or „poor”. Very poor”.

According to survey results, there has been a decline in the percentage of Canadians who express „often” or „occasionally” concerns about the value of their investments (48 per cent, down four points) and the safety of their savings (47). percent, down five points) over the past two months.

When Canadians were asked how unemployment had affected their families, 34 per cent (down three points) said they were able to cover their mortgage or rent payments and 27 per cent (down two points) said their employer felt serious financial trouble.

The research firm also asked how confident Canadians are that Prime Minister Justin Trudeau can do the right thing to help the economy. Among respondents, 43 percent said they had confidence in Trudeau. However, 36 per cent said they had confidence in Conservative leader Pierre Poilivre, and 33 per cent said they had confidence in Bank of Canada Governor Tiff Macklem.


Method:


The results are based on an online survey of 1,000 adults in Canada conducted from June 26 to June 28, 2023. Data are statistically weighted according to Canadian Census statistics for age, gender and region. The margin of error measuring sampling variability is +/- 3.1 percentage points, 19 times out of 20.


Reporting for this story was paid for by The Afghan Journalists in Residence Project, funded by Meta.

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