According to the latest data from Thomson Reuters IPSOS Primary Consumer Sentiment Index (PCSI), Canadian consumer confidence edged slightly higher in March 2024 compared to the previous month. The index, which measures consumers' outlook on the economy, reached 47.89 in March, up from 47.38 in February.
The Month-over-Month comparison indicates a small improvement in consumer sentiment, reflecting some confidence among Canadian consumers despite ongoing economic challenges. The data was updated on March 13, 2024, showing a modest uptick in sentiment.
While the increase in consumer confidence is a positive sign, economists will continue to monitor the situation closely to assess the sustainability of this trend and its potential impact on consumer spending and overall economic growth in Canada.
