The week to week and month to month trending as measured in the Bloomberg Nanos Canadian Confidence Index remained steady and near a 12 month low. Of note, the tracking suggests that the forward sentiment in the beginning of 2019 is much less positive than the beginning of 2018.

The BNCCI, a composite of a weekly measure of financial health and economic expectations, registered at 54.43 compared with 55.09 four weeks ago. The twelve month high stands at 59.12.

The Bloomberg Nanos Pocketbook Index is based on survey responses to questions on personal finances and job security. This sub-indice was at 59.10 this week compared to 60.64 four weeks ago. The Bloomberg Nanos Expectations Index, based on surveys for the outlook for the economy and real estate prices, was at 49.76 this week (compared to 49.54 four weeks ago).

The average for the BNCCI since 2008 has been 56.90 with a low of 43.28 in December 2008 and a high of 62.92 in December 2009. The index has averaged 54.74 this year.

“The current forward look as measured by the Bloomberg Nanos Canadian Confidence Expectations Sub-indice stands at 49.76 compared to 57.52 points in January 2018,” said Nik Nanos, Chief Data Scientist at Nanos Research.