Canada consumer confidence rises in January

Thu Jan 26, 2012 9:54am EST
 
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OTTAWA (Reuters) - Consumer confidence in Canada rose in January from a two-year low but remained weaker than it was a year ago, according to the Conference Board of Canada report on Thursday.

The organization's index of consumer confidence rose 4 points this month to 73.9, but it was still 14.3 points below its level in January 2011.

"Despite a respectable improvement this month, the survey results continue to indicate that a sizable percentage of Canadians are struggling with their finances," the Conference Board said in a report.

More respondents in the January survey said they expected their personal finances to improve over the next six months than those who expected them to worsen, but the numbers were still far more downbeat than they were last January.

Negative responses outnumbered positive ones on the issue of job creation, however, and on whether now is a good time to make a major purchase.

The Conference Board conducted its survey between January 5 and 15, with a margin of error of plus or minus 2.2 percent.

(Reporting By Louise Egan; Editing by Peter Galloway)