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Canadian economy: Most Canadians cautiously optimistic, poll shows

A recent survey conducted by Research Co. The survey showed that the percentage of Canadians who have a negative view of the economy has decreased by 6 points since the beginning of the year.

The survey results show a positive change in the way Canadians view current economic conditions. However, of the 1,000 Canadians who took part in the survey, more than half of the respondents (56%) said the country’s economic conditions were “bad” or “very bad”.

Survey data shows a growing sense of optimism about the overall economic outlook. Among those surveyed, 41% of them consider the current economic conditions to be “very good” or “good”. This is up six points from a Research Co. in January 2023.

Analyzing data by region, 42% of British Columbians and Atlantic Canadians have a positive view of current economic conditions. Compared to January, this number increased by 7 and 13 points, respectively.

According to the survey, Quebec residents are more likely to be optimistic about the country’s economic situation with 45% (up 4 points) keeping a positive attitude.

Data from Research Co. showed that the number of people expressing positivity about the Canadian economy in Saskatchewan and Manitoba increased by 15 points, with 43% of them having a positive view. This percentage is lower in Alberta (30%) and Ontario (41%, up 4 points).

Of the respondents, 32 percent of them foresee a decline in the nation’s finances over the next six months. This represents a 12 point drop since January.

Given the challenges posed by inflation, the survey results highlight widespread concerns and uncertainty about the economic landscape, as only 16% of Canadians surveyed predict the country’s financial health. will improve over the next six months and 45% (up 7 points) predict no change.

When it comes to personal finances, the survey results show a ‘small’ movement as more than half (52 per cent) of Canadians say their personal finances are either “very good” or “very good”. ” and 46 percent consider it “poor” or “very poor”.

According to the survey results, there has been a decline in the percentage of Canadians who express “frequent” or “occasionally” concerns about the value of their investments (48 percent, down 4 points) and the safety of their investments. of their savings (47 percent, down 5 points) over the past two months.

When Canadians were asked how unemployment has affected their households, 34% (down 3 points) said they could cover their mortgage or rent and 27% (2 points down). ) said their employer felt severe financial difficulty.

Research Co. also asked Canadians how confident they are that Prime Minister Justin Trudeau can do the right thing to support the economy. Of those polled, 43% said they were confident Trudeau would do the same. However, only 36% said they trust Conservative leader Pierre Poilievre and 33% said they trust Bank of Canada Governor Tiff Macklem.


Methodology


The results are based on an online study conducted from June 26 to June 28, 2023, among 1,000 adults in Canada. Data have been weighted according to Canadian census data by age, sex and region. The margin of error—a measure of the variability of a sample—is +/- 3.1 percentage points, 19 times out of 20.


Reporting for this story was paid for through the Meta-funded Afghan Journalists Project in Residence.



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