{"id":40464,"date":"2023-11-08T15:00:11","date_gmt":"2023-11-08T15:00:11","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/11\/08\/canadians-view-on-economy-personal-finances-sinks\/"},"modified":"2023-11-08T15:00:11","modified_gmt":"2023-11-08T15:00:11","slug":"canadians-view-on-economy-personal-finances-sinks","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/11\/08\/canadians-view-on-economy-personal-finances-sinks\/","title":{"rendered":"Canadians’ view on economy, personal finances sinks"},"content":{"rendered":"
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Canadians\u2019 outlook on the economy darkened in October as decades-high interest rates continue to sap consumer spending, the housing market and growth.<\/p>\n

Two thirds of participants in the latest Maru Public Opinion survey said they do not believe the economy will improve over the next two months, an increase of two percentage points from the month before.<\/p>\n<\/div>\n

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Signs have been building in recent weeks that Canada\u2019s economy is stalling. Gross domestic product was flat in August, and a similar estimate for September has economists predicting that the country is already in a technical recession or two straight quarters of GDP contraction. A weaker jobs report for September added to evidence of a fading economy.<\/p>\n<\/div>\n

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Canadians are also more negative about their personal finances.<\/p>\n

The Maru\u2019s Household Outlook Index (MHOI) fell further into pessimistic territory to 83 from 84 the month before \u2014 the lowest reading since its inception in April, 2021. Anything below 100 on the index is negative and anything above indicates optimism.<\/p>\n

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