Consumer confidence takes a hit: Nielsen
The company's Global Consumer Confidence Survey finds that 58% of survey respondents feel Canada is still in a recession, and 28% have no spare money after paying their bills.
Nielsen has found that consumer confidence in Canada is declining and that most Canadians feel like the country is still in a recession, even though it hasn’t been since the third quarter of 2009.
The information and measurement company released the results of its Global Consumer Confidence Survey this week, which showed that consumer confidence has fallen to the same level it was at last year.
According to the survey, which polled nearly 500 Canadians between Nov. 10 and 28, 58% of respondents feel Canada is still in a recession, even though it technically came out of recession in the third quarter of 2009.
After paying off the bills, people told Nielsen, they’re using their remaining cash to pay down debts or save. Twenty-eight percent said they have no spare cash.
To save money, respondents said they’re cutting down on out-of-home entertainment, spending less on clothes, ordering fewer takeout meals and switching to cheaper grocery brands.