But fewer people are expressing anxiety over unemployment or the value of investments.
Although a majority of Canadians think the national economy is in good shape, the proportion of people who share this opinion has shrunk in the past month, a new Angus Reid Public Opinion poll has found.
In the online survey of a representative national sample of 1,009 Canadian adults, 51 per cent of respondents say Canada’s economic conditions are good or very good, down seven points since the last Economic Panorama was released in May.
The proportion of Canadians rating the state of their own finances as good has also decreased to 56 per cent (-4). Four-in-ten Canadians (42%) say their personal situation is not looking good.
Despite the dip with respect to May, Canadians remain mostly optimistic about the future: 28 per cent think the national economy will improve over the next half year, and only 13 per cent foresee a decline.
Over a third of Canadians (35%) say the country is already out of recession or will be by the end of 2010, while 46% expect a more prolonged recession.
Current Concerns
While concerns about the general economy seem to have risen, fewer Canadians are reporting anxiety over threats specific to them and their households. Still, some of these indicators remain too high for comfort. Over the past three months, many Canadians report to have worried about the value of their investments (37%, -7); themselves or someone in their home becoming unemployed (35%, -5); the safety of their savings (34%,-3); being able to pay mortgage or rent (26%, +2); and their employer running into serious financial trouble (20%, -4).
Inflation and Debt
Most Canadians still expect prices to go up for gasoline (79%), a week’s worth of groceries (75%), and real estate (50%). Fewer people expect more expensive new cars (37%) or TVs (26%).
Paying debt remains a priority for many Canadians. Respondents were asked what they would do with an allowance of $1,000. On average, they would allocate the money towards paying debt ($371), covering daily expenses ($196), savings ($173), big purchases such as a car or a home renovation ($90), buying personal gifts or treats ($92), investing in mutual funds ($45), and investing in individual stocks ($33).
Political Leadership
In order of most trusted to least trusted to handle the economy, Bank of Canada Governor Mark Carney leads with 49 per cent, followed by Prime Minister Stephen Harper with 38 per cent, and Liberal and Opposition Leader Michael Ignatieff with 26 per cent.
The Conservative Party is still preferred over the Liberals to rein in national debt (34% to 24%), end the recession (36% to 21%), create jobs (31% to 29%), and control inflation (36% to 21%). However, around four-in-ten Canadians consistently say that neither of the two main parties is apt to handle these issues.
Canada vs. Other Countries
Overall, Canadians think the national economy is in better shape than many other industrialized economies. Many Canadians say the situation is better than the United States’ (75%), the United Kingdom’s (54%), France’s (52%), Germany’s (39%), Japan’s (36%), and Australia’s (26%). The only exception is China, with 33 per cent of respondents saying Canada’s situation is worse than theirs.
Full Report, Detailed Tables and Methodology (PDF)
CONTACT:
Hamish Marshall, Research Director, Public Affairs
+604 647 1987
hamish.marshall@angus-reid.com
Methodology: From June 22 to June 23, 2010, Angus Reid Public Opinion conducted an online survey among 1,009 randomly selected Canadian adults who are Angus Reid Forum panelists. The margin of error—which measures sampling variability—is +/- 3.1%. The results have been statistically weighted according to the most current education, age, gender and region Census data to ensure samples representative of the entire adult population of Canada. Discrepancies in or between totals are due to rounding.
