Consumer confidence gets big lift

The following is extracted from the 2 February 2010 edition of “The Star”.

Canadians felt more optimistic about the economy in January than in the past two years, according to a consumer confidence survey released [today].

The monthly survey by the Conference Board of Canada suggests Canadians may now feel the worst of the financial crisis has passed.

The Index of Consumer Confidence rose 13.8 percentage points in January to a 23-month high of 96.6 points. (That's compared with a 100-point baseline from 2002.)

"The index is over 40 points higher than it was one year ago. This suggests Canadians are seeing a light at the end of the recession tunnel," said Pedro Antunes, director of national and provincial forecast.

All five regions moved significantly higher. In the West, British Columbia led the way with a 22.2 point increase, the largest monthly gain ever recorded for the province….