The mood of consumers deteriorated in July, with Canadians expressing growing concern about future employment prospects, according to a survey by the Conference Board of Canada.
The board's consumer confidence index fell 3.7 points from the previous month to a reading of 80.
"Unlike June's index, when the decline was concentrated in just two provinces, consumer confidence was down across the country this month," the board said in a report.
The biggest decline in sentiment was in British Columbia, where the index fell 12.5 points to 78.9 There was also a large drop in the Atlantic provinces, falling fell 7.3 points to 83.5, and in the Prairies, where the index fell 4.8 points to 93.7.
In Quebec, the index fell 2.1 points to 81, while the reading in Ontario was down 1.2 points to 72.7.
"While recent labour market reports point to strength in the Canadian labour market, survey respondents continue to be cautious about future job prospects in their community," the board said.
The index is based on a survey of consumers conducted between July 8 and 18. The Conference Board says the margin of error of the survey is plus or minus 2.2 per cent.
Source: Vancouver Sun http://www.vancouversun.com/business/fp/Consumers+fretting+over+market+Conference+Board/3327447/story.html#ixzz0utikB6ez
