Poll: Canada’s Economy won’t get better before it gets worse
It’s the holiday season and Canadian financial experts are praying that spending increases to revitalize the fragile Canadian economy. Little do they know, Canadians are still cash strapped, Canada’s economy hasn’t moved a budge and most Canadians expect 2013 to go down hill. What does this mean? As long as citizens feel a rocky road, they too are closed for business.
The Nanos number 37 is fitting for this time of the year and the Conservative Party better pay attention. There is no quantity or quality of ads that can convince a cash-strapped Canadian that things are going fine. And while we’re at it, if a weak economy is an excuse for pension reforms, then a weak economy will also be an excuse for Canadians to close their wallets and focus on debt repayment which is the last thing Canada’s brittle economy needs right now.
What makes the number 37 even more fatal to the Conservatives is that it is a larger number that isn’t in their favor. In June 2011 and again in November 2012, Canadians were asked about their personal finances. Here is how the stats broke down:
| Worse Off | The Same | Better Off | Not Sure | |
|---|---|---|---|---|
| June 2011 | 25% | 56% | 18% | 2% |
| November 2012 | 37% | 39% | 21% | 3% |
A 3% increase in responses stating better off is not something to be happy about when the worse off responses are up 12% or four times as much.
So as the cost of living is expected to skyrocket in 2013 and Canadians brace themselves for the worse, we see a Canadian economy that will struggle and for a government that has put all of its political capital into the domain, the damage will be one to behold.
These poll results will say one thing economically and one thing politically. Economically, Canada’s economy will slow down and this will be unrelated to the American fiscal cliff. Politically, the Conservatives will lose even more ground to the opposition parties, particularly those that appeal to the middle class.
So how are your finances going this year? Are you nervous about the outlook for 2013?
