CashNews.co
The proportion of those rating their financial situation positively has decreased to 46%. Regional disparities are notable, with Alberta showing the lowest level of satisfaction at 38%, while other regions like British Columbia and Atlantic Canada report higher positive perceptions at 45%.
Disparities in confidence levels
The survey revealed a significant generational divide, with Canadians aged 35 to 54 being the least optimistic about their finances. Gender differences are also evident, as men are more likely than women to believe in a stable economy and feel their personal finances are not struggling.
Concerns about inflation have risen sharply, with many Canadians expecting higher costs in the coming months. The majority anticipate increased prices for gasoline (77%), groceries (76%), and real estate (65%). Additionally, more than half of Canadians are worried about their investments (52%) and savings (51%), reflecting heightened financial anxiety.
Looking ahead, the survey indicates a prevailing scepticism about economic improvement. About 34% of Canadians expect the national economy to decline, while 43% foresee no change, and only 15% are optimistic about a positive turnaround.
Political trust remains relatively stable, with 36% of Canadians trusting Prime Minister Justin Trudeau to manage the economy effectively, a slight decrease from earlier in the year. Official Opposition leader Pierre Poilievre holds a marginally higher trust rating at 41%, while Bank of Canada Governor Tiff Macklem’s rating stands at 35%.