This is from Canadian Press.
The confidence level has dropped precipitously since August. However, not that large a percentage of Canadians expect their economic situation to deteriorate only 18 per cent.
Prices of many items may decline in the near future. Certainly the cost of gas is way down so perhaps people will feel more confidence within a short time.
Consumer confidence in Canadian economy dips to near U.S. levels, survey finds
3 hours ago
OTTAWA — A new survey finds that the second half of 2008 saw more Canadians losing confidence in the prospects for the economy.
The joint survey from Harris Decima and Investors Group says 64 per cent of Canadians are feeling pessimistic about the economic outlook for 2009. That's twice as high as the number of individuals who felt less confident about the economy in a survey last August and similar to the poor consumer confidence levels reported in the United States.
But the survey says Canadians have a bit more faith in their personal financial outlooks.
Only 18 per cent of survey participants expect their individual economic situations to decline in the coming year.
The study surveyed about 2,000 people betwen Dec. 11 and 21, 2008 and has a margin of error of 2.2 per cent 19 times out of 20.