The Bloomberg Nanos Canadian Confidence Index rose to 56.2, the highest since January according to the Nanos poll. The 38.5 percent of people expecting higher local home prices was the most this year.
Increasing confidence signals the economy is starting to adjust from last year’s plunge in crude oil prices, which should begin to have positive effects rather than negative in the second half, according to Bank of Canada Governor Stephen Poloz.
The survey showed 34 percent of those asked said the economy will weaken in the next six months. The share of respondents who say they’re worse off in terms of their personal finances compared with a year earlier rose to 26.2 percent, the most since September. Those who feel at least somewhat insecure about their jobs was 13.2 percent, compared with a 12-month average of 11.9 percent.