Canadians lose financial confidence amid economic concerns: index
BNN Bloomberg
Canadians' financial confidence declined this year, according to an index of Canadians' views, spurred by concerns over the trajectory of the economy and governments’ ability to manage the situation.
The IG Wealth Management Financial Confidence Index, released Tuesday, tracked the overall financial confidence of Canadians based on 10 survey questions related to their personal financial outlook, planning and literacy as well as trust in the economy and the current financial situation.
The confidence index dropped to 50 in 2023, down from 51 in 2022 and 57 in 2021.
“While Canadians are feeling relatively stable with their current personal financial situation, there are significant concerns about where things could be headed in the year ahead and in our ability to successfully navigate this uncertainty,” Damon Murchison, the president and CEO of IG Wealth Management, said in a press release.
