Energy
4 years ago

Consumer confidence predicts Canadian household spending, shaping economic forecasts nationwide.

Economic Inquiry
THE USEFULNESS OF CONSUMER CONFIDENCE IN FORECASTING HOUSEHOLD SPENDING IN CANADA: A NATIONAL AND REGIONAL ANALYSIS
Andy C. C. Kwan, John A. Cotsomitis

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Consumer confidence can predict household spending in Canada. The Conference Board of Canada's Index of Consumer Attitudes (ICA) is effective in forecasting national personal consumption expenditures and different types of consumer spending. Regional indices are not as accurate as the national ICA in predicting household spending. Overall, consumer confidence is a reliable indicator of how much Canadians will spend.