Consumers Believe Worst Is Over

Consumers in Canada entered the new year riding a wave of optimism that the worst is over, says polling by Bloomberg News and Nanos Research Group. Households reported a surge in confidence in the final weeks of 2020 that has brought sentiment back to pre-pandemic levels for the first time since the economy crashed last year. The recovery highlights just how much Canadian households have emerged from the economic crisis largely intact – cushioned by massive income support payments, a strong rebound in jobs, surging home prices, and stock market gains. That’s a positive signal for the overall economy, stoking expectations of a rush in consumer spending once restrictions are finally lifted.