Iran war drags Canadian consumer confidence to 11-month low: poll
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Canadian consumer confidence has fallen to an 11-month low due to the war in Iran, with only 15% of Canadians expecting a stronger economy in the next six months. The Bloomberg Nanos Canadian Consumer Confidence Index dropped to 46.93, indicating net negative views, as high oil prices and inflation concerns weigh on households and businesses.
Canadian consumer confidence has fallen to its lowest level in almost a year. The Bloomberg Nanos Canadian Consumer Confidence Index fell to 46.93 in the week ended April 3. The war in Iran has sent energy prices soaring and stoked worries about persistent inflation. Only 15% of Canadians see a stronger economy six months from now, compared to 27% four weeks ago. The Bank of Canada warns of potential weaker near-term growth and upside risks to inflation. Canada's labour market has also weakened, shedding over 100,000 jobs in January and February.
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