Canadian Consumer Confidence Remains Cautious as Economic and Housing Concerns Persist

Canadian Consumer Confidence Remains Cautious as Economic and Housing Concerns Persist

OTTAWA — Consumer confidence in Canada remains subdued in September as households continue to weigh concerns about the economy, housing and the cost of living against relatively steady perceptions of their own finances and job security.

The Bloomberg Nanos Canadian Confidence Index stood at 51.80 in the four-week period ending September 4, 2026, little changed from the previous week but below its level four weeks earlier. The index remained above the neutral 50-point mark, although it was also below its long-term average of 54.70. The survey was based on responses from 1,020 Canadians, with a margin of error of plus or minus 3.1 percentage points.

The latest figures show a divide between Canadians' views of their personal circumstances and their expectations for the broader economy.

The Nanos Pocketbook Index, which measures perceptions of personal finances and job security, rose slightly to 54.83. By comparison, the Expectations Index, which tracks views of the economy and housing market, fell to 48.76, moving below the neutral level.

Housing has been one of the weaker areas of sentiment. The share of Canadians expecting home prices in their neighbourhood to increase over the next six months declined during the latest four-week period, suggesting that optimism about the housing market has softened.

The cautious mood comes as Canadians continue to face elevated prices. Statistics Canada reported that the Consumer Price Index increased 3.0 per cent year over year in August, unchanged from July. Gasoline prices remained an important factor, while prices excluding gasoline rose 2.4 per cent.

Other surveys have also pointed to ongoing uncertainty. Ipsos reported in August that Canadian consumer confidence weakened, with declines in both confidence about personal finances and perceptions of the broader economy. Its Canadian survey was based on online interviews with 1,000 adults aged 18 to 74 conducted between July 24 and August 7.

The Bank of Canada has also highlighted the relationship between economic uncertainty and household behaviour. In its September deliberations, the central bank said renewed trade uncertainty could weigh on consumer and business confidence, potentially affecting household spending, investment and hiring.

Inflation remains another source of concern. The Bank of Canada's second-quarter consumer-expectations survey found that concerns about high prices and economic uncertainty were continuing to hold back spending plans, while expectations for inflation had edged higher.

For Canadian households, the result is a mixed economic picture: confidence in personal finances and employment remains comparatively stronger, while expectations for the national economy and housing market are more cautious.

Economists and policymakers will continue to watch consumer sentiment closely because household spending is an important component of Canada's economic activity. A sustained decline in confidence could encourage households to postpone major purchases, while improving confidence could support stronger spending.

For now, September's figures suggest that Canadians remain cautious about the economic outlook even as many continue to express relatively stable views about their own financial circumstances.