Mass Layoffs Push Canada’s Consumer Confidence to All-Time Low

(Bloomberg) — Consumer confidence fell to a record low last week, surpassing even the worst numbers from the Great Recession after the coronavirus pandemic shut down much of the economy.The Bloomberg Nanos Canadian Confidence Index, a composite gauge based on a telephone survey of households, declined sharply for a third week as extensive lockdowns triggered…

Mass Layoffs Push Canada’s Consumer Confidence to All-Time Low

(Bloomberg) — Consumer confidence fell to a record low last week, surpassing even the worst numbers from the Great Recession after the coronavirus pandemic shut down much of the economy.The Bloomberg Nanos Canadian Confidence Index, a composite gauge based on a telephone survey of households, declined sharply for a third week as extensive lockdowns triggered mass layoffs. The aggregate index dropped to 42.7 last week, the lowest reading since polling began in 2008.The survey paints a bleak picture of economic anxiety across regions, age groups and most income levels.Almost three quarter of respondents (74%) believe the nation’s economy wil
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