Canadian Consumer Confidence Plummets

0:00It's April 6th. This is Vancouver News today, AI-powered stories from your city. I'm Cory with the story. Canadian consumer confidence just hit its lowest point in 11 months, dropping to 46.93 on the Bloomberg Nano's Index for the. Weekending April 3rd. That's below 50, which means more folks see the economy heading south thin up. It's the weakest since May 2025. Right after those initial shocks from US President Donald Trump's Liberation Day tariffs, the expectations index took a bigger hit, losing almost 10 points over four weeks straight. Now only 15% of Canadians think the economy will strengthen in the next six months, down from 27% just a month ago. All parts of the index are showing real pressure. Canadians are feeling the squeeze from the war in the Middle East and Iran, with high oil prices hitting households and businesses hard, even if energy exports get a boost. The labor market lost over 100,000 jobs in January and February, and food inflation

1:01is the worst among G7 countries. Plus, there's worry over the US-Mexico-Canada trade deal review, which Trump called irrelevant. This is a sharp turnaround from two months back. When confidence peaked, thanks to strong job gains, falling housing prices, and upbeat vibes from, younger people, personal finances, only 13% say theirs improved over the last year, and job security dipped a bit to 59% feeling okay. Bank of Canada says the oil shot could slow growth and push inflation higher, but it's too soon to call the full impact. Keep an eye on how this plays out as tensions simmer.