About the Nanos-Bloomberg tracking and its methodology
The BNCCI is produced by the Nanos Research Corporation, headquartered in Canada, which operates in Canada and the United States. The data is based on random interviews with 1,000 Canadian consumers (recruited by RDD land- and cell-line sample), using a four-week rolling average of 250 respondents each week, 18 years of age and over. The random sample of 1,000 respondents may be weighted using the latest census information for Canada. The interviews are compiled into a four -week rolling average of 1,000 interviews where each week, the oldest group of 250 interviews is dropped and a new group of 250 interviews is added. The views of 1,000 respondents are compiled into a diffusion index from 0 to 100. A score of 50 on the diffusion index indicates that positive and negative views are a wash while scores above 50 suggest net positive views, while those below 50 suggest net negative views in terms of the economic mood of Canadians.
A random survey of 1,000 respondents in Canada is accurate 3.1 percentage points, plus or minus, 19 times out of 20. This report is based on the four waves of tracking ending April 3, 2020. Readers should note that due to the Covid-19 outbreak and ESOMAR standards starting April 3, 2020 Nanos is using its probability online panel. The weeks prior to the transition were administered by telephone.
The questions in the Nanos tracking are as follows:
1. Thinking of your personal finances, are you better off, worse off or has there been no change over the past year?
Better off
Worse off
No change
Unsure [unprompted]
2. In the next six months, do you think the Canadian economy will become stronger, weaker or will there be no change?
Stronger
Weaker
No change
Unsure [unprompted]
3. Would you describe your job, at this time, as secure, somewhat secure, somewhat not secure or not at all secure?
Secure
Somewhat secure
Somewhat not secure
Not at all secure
Unsure [unprompted]
4. In the next six months, do you believe that the value of real estate in your neighborhood will increase, stay the same or decrease?
Increase
Stay the same
Decrease
Unsure [unprompted]
The Bloomberg Nanos Canadian Confidence Index (BNCCI) is a weekly measurement of the economic mood of Canadians on the strength of the economy, job security, real estate in their neighbourhood, and their personal financial situation. It is a composite of those variables and has two sub indices: a Bloomberg Nanos Expectations Sub-Index on forward views; and, Bloomberg Nanos Pocketbook Index on their personal economic situation. The longitudinal data on the index begins in 2008 and is a significant data source for decision-makers.
The following questions are used for the index calculations:
– Thinking of your personal finances, are you better off, worse off, or has there been no change over the past year? (Overall Confidence Index and Pocketbook Sub-Index)
– Would you describe your job, at this time, as secure, somewhat secure, somewhat not secure, or not at all secure? (Overall Confidence Index and Pocketbook Sub-Index)
– In the next six months, do you think the Canadian economy will become stronger, weaker, or will there be no change? (Overall Confidence Index and Expectations Sub-Index)
– In the next six months, do you believe that the value of real estate in your neighbourhood will increase, stay the same or decrease? (Overall Confidence Index and Expectations Sub-Index)