Canucks confident, U.S. uncertain

It is a tale of two coun­tries. Two surveys, released Thursday, offerstrikingly different assessments of the consumer psyche in Canada andthe United States.

It is a tale of two coun­tries. Two surveys, released Thursday, offer strikingly different assessments of the consumer psyche in Canada and the United States.

Amid suggestions the economic crisis has reached an inflection point, Canadian consumer confidence is “resilient.” That stands in sharp contrast to U.S. consumer sentiment, which continues to sour as Americans cast doubt on the prospects of a speedy recovery.

The TNS Canadian Facts’ Consumer Confidence Index suggests economic confidence in this country is showing signs of stability after “holding steady” for the third month in a row.

Its July reading was 93.4, slightly better than the 92 scored in June. In fact, July’s result suggests that Canadian consumer confidence could be edging back up to the 94.1 level achieved in May.

Michael Antecol, vice-president of TNS Canadian Facts, said Canadians appear to be shrugging off recent media reports suggesting the recovery could be slow — particularly for the job market.

U.S. consumer sentiment, meanwhile, is heading south, according to a separate report. The RBC CASH Index points to a “marked downward shift” for July. The index reflects consumer attitudes and spending by households. It stood at 22.4 for July, an 11.9-point decline from June’s 34.3 reading.

 
 
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