Consumer confidence ‘steady’: Investors Group

The Harris Decima poll indicates Canadians' outlook on economic issues is largely unchanged from the summer, but the majority believe the economy will improve over the next five years.

Only 16% of Canadians feel they are better off financially than they were a year ago, but the majority of Canadians (52%) feel the economy is on the right track and will improve over the next five years, a new poll from Investors Group indicates.

The poll, conducted in November by Harris Decima, revealed a largely unchanged attitude toward personal finance and the economy. In August, 15% of Canadians felt they were better off financially a year ago and 24% said they were worse off, while the split this fall was 16% and 23%.

However, 27% said they believed their financial situation would improve a year from now, while only 12% said they believed things would be worse.

According to the poll’s findings, Canadians’ outlook on the economy in 2011 is mixed: 19% appear to believe the economy is on the right track while 14% see ‘bad times’ in 2011. That outlook gets considerably brighter, however, when extended over five years: 52% of Canadians think the economy will improve during that time.

‘Canadians appear to have acknowledged that the economic situation and their personal financial lives have become a little more stable,’ Jack Courtney, assistant VP of advanced financial planning, Investors Group, said in a release. ‘This is a positive indication that we can continue to plan and move forward with confidence.’