Canadians\u0027 outlook for the economy deteriorated in February, as more households showed signs of worry about their savings. Read on.
Wright conducted the survey from Feb. 24 to 27. Some 62 per cent of respondents said they thought they had enough money on hand to cover an unexpected expense over the next two months, down from 65 per cent in January. The February result matched that of October 2022, the last time the index was this low.
Fewer households indicated that they felt their investments and savings would be enough to sustain them in the future; 55 per cent of respondents answered affirmatively, down from 59 per cent in January. February’s result was the second-lowest reading after March 2022’s 54 per cent.Article content Negative sentiment far outstripped any positive feelings survey participants could muster regarding the economy and their personal financial situation.
A growing number of Canadians — 66 per cent compared with 64 per cent in January — said they believed the economy was on the “wrong track.” The only other time Canadians held a more pessimistic view of the economy was in October 2022 when 70 per cent said the economy was headed in the wrong direction.was moving in the right direction was in November 2022.
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