The rise in Consumer confidence index in Canada ranked higher than USA as the job market appeared opening up. Consumer spending registered an impressive increase of 2.5% last month in Canada while it registered a decline of 1.4% in USA.
US market is yet to fully recover from the collapse of the housing market and recovery is yet underway.
In US though there is marked decline in growth of unemployment, unemployment is still hovering at astounding 10%. However, the GDP has started rising in USA and in the months to come, the employment scene could get better.
In Canada, in a survey, while more consumers felt optimistic about future employment opportunities, they were also more pessimist about the future.
Those who said they were better off financially today compared to six months ago rose 1.3 points to 13.7 per cent – though negative responses still outweighed positive ones by a wide margin.
With in Canada, the job rise is not uniform. Consumers in British Columbia felt much better off while Consumers in British Columbia felt most confident, followed by those in the Prairies, Atlantic Canada, Quebec and Ontario.