Economic confidence at 20-year low among Canadians: report

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Canadians are feeling pretty gloomy about the economy these days, at least according to a new Ipsos poll that was commissioned by Global News.

The poll notes that only 36% of Canadians would rate the economy as “good,” the lowest it’s been since 1995, and lower than in 2009 (43%) when the recession was at its height.

Only 2% of those polled believed our economy was in “very good” standing.

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SEE ALSO: B.C. to lead all Canadian provinces in economic growth in 2016

In B.C., the numbers are lower, with 34% of people believing the economy is good. Albertans, unsurprisingly, have the least confidence in the economy nationally, with only 16% saying the economy is good, and 84% saying it’s bad.

Ipsos notes that, based on historical data, it’s unusual for less than half of Canadians to have positive feelings about the economy. The last time they were recorded below 50% was from 1994 (when tracking began) through to 1996.

And Canadians seem to be feeling pessimistic about the future. While the majority of those polled – 63% –  believe the economy won’t change over the next six months, 21% believe it will be weaker, as opposed to 16% who say it will be stronger. Overall sentiment varied depending on the province, of course, with 35% of Albertans saying the economy will weaken and 17% of British Columbians saying the same.

Despite the national pessimism, B.C. is expected to lead the country in economic growth in 2016. The province is expected to attract 20,000 new workers from other provinces this year and finish the year with a 2.7% real GDP growth.

Ipsos took a sampling of 1,002 Canadians between February 19 and March 4.

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Lauren Sundstrom Lauren is a Staff Writer and Projects Assistant at Vancity Buzz. She is a graduate of BCIT's Broadcast and Online Journalism program. She loves reporting on breaking news and lifestyle content. If you feel like you have a story that needs to be told, fire her a tweet.
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