Poll shows Albertans are worried about their personal finances yyc abpoli
The poll, conducted in December by Pollara, surveyed 451 Albertans as part of a larger canvassing that recorded the feelings of 4,020 Canadians on how they felt toward personal, national and global finances. Dan Arnold, Pollara’s Chief Strategy Officer, said both Canadians and Albertans are more worried about their money than they have been over the past decade, noting Pollara has been running the poll for two decades.
While looking to the future, 61 per cent of respondents said they felt their household incomes would fall behind inflation in 2023 and 74 per cent highlighted negative feelings about their financial situation. A recession is generally defined as occuring when there is a slowing of spending or economic activity for two consecutive quarters. Other definitions keep its limits more broad using a phrase stating there must be a prolonged, widespread and significant downturn.
“Inflation historically drives consumer sentiment in a large way. That’s inflation in general but gas prices, energy prices in particular,” said Tombe. “When those goods are expensive or rise in price rapidly, we tend to see consumer sentiment fall and that does matter because people might engage in what’s called precautionary savings.”
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