8 Sep 2011

Consumer confidence in Canada tumbles

While home sales in Canada have been strong and employed individuals are confident in their job security, a new poll found that consumer sentiment fell considerably in the third quarter.

According to a national telephone survey conducted by the polling company teleVox, consumer confidence dropped from 83.7 in the second quarter to 77.5 in the third.

Doug Anderson, senior vice president for the business firm Investors Group, said the results of the poll are troubling.

"For the second quarter in a row, Canadian consumer confidence has declined," said Anderson. "When U.S. consumer confidence has declined, Canadian confidence has typically declined as well, although usually to a lesser degree and sometimes on a delayed basis.

Last month, the U.S.-based Conference Board reported that consumer confidence in America was near a historic low of 55.7.

While Canadians' may be hesitating to make a major purchase, they can always rest assured that their belongings will be taken care of in a storage unit. Access to units are computer controlled, thereby preventing unauthorized entry.

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