2020 was a massive blowout of terror for Canada with the pandemic. It took a major toll on Canadians. Even then, the real estate sector of the nation has put forward a surprising and relatively positive note as 2020 bids adieu. As per the new data, there can be seen that the overall ratio of Canadians who have come to believe that the next few months would bring prosperity to their neighbourhood is much higher than expected. The real estate value of Canada seems to bring a brighter outlook on people, and the estimated worth has reached a nine-month high.
It is also worth noticing that the confidence level of the consumers in Canada remains above the 2020 average. As per a report presented by the new Bloomberg Nanos Canadian Confidence Index (BNCCI), more Canadians seem to have been growing confidence in the market.
The Bloomberg Nanos Canadian Confidence Index (BNCCI) takes a measurement of the economic mood that Canadians hold on a weekly basis that takes in several aspects of the Canadian economy, such as overall strength, job security, real estate development and management in the neighbourhood, as well as their personal financial condition. All of these serve as a proper foundation that also holds the included variables. The survey is divided into subcategories. The first one is the Bloomberg Nanos Expectations Sub-index that takes into account the forward views. The second one is the Bloomberg Nanos Pocketbook Index that observes the personal economic conditions of the individuals who participate in it. Ever since the year 2008, this longitudinal data on the index has played a major role in providing data for the decision-makers.
The BNCCI was produced by the Nanos Research Corporation (which has its headquarters in Canada). It was founded while operating in Canada and the United States of America likewise. The data presented in this index is completely based on random interviews. These interviews put forward the views of a thousand Canadian consumers in a period of four weeks. The views of the respondents are put together into a diffusion index ranging from 0 to 100. The score of 50 is an indication that both positive and negative views are "a wash." If the score is above 50, it suggests an overall net positivity in the views, and in case the score is below 50, the index suggests net negativity in the views of the consumers. This is how they calculate the economic mood of Canadians.
When it comes to gaining fresh data, the BNCCI index has been registered as 53.48 in December. The reading shows the total 52.49 that it hovers over. This shows the recorded four weeks prior but also remains below the twelve months high of 57.06.
It is also worth considering that the Bloomberg Nanos Pocketbook Index is highly based on the survey responses to certain questions. These questions cover different areas such as personal finances and job security. The index has been registered at 57.14, as noticed in its most recent data. This has also been compared to the 57.51 recorded data four weeks prior.
So, what exactly does the Bloomberg Nanos Pocketbook Index seek to know through the interviews. Here are some of the questions asked in this survey:
On the other hand, the Bloomberg Nanos Expectations Index, which does surveys based on the Canadian consumers' outlook of the economy as well as the real estate prices, has been at 49.81 in the current week as compared to the 47.47 score that it was at four weeks prior. This means there has been a general negative outlook on the Canadian economy.
For a better context, the Bloomberg Nanos Expectations Index average has mostly been at 55.98 ever since 2008. However, it did reach its lowest average score in the April of 2020. The reading went as low as 37.08. So far, the highest recorded score dates back to December of 2009. The average score then was 62.92. For 2020, the index has shown an average reading of 49.54.
To get the latest news, property buying or selling tips and much more, check out our full blog.
It is also worth noticing that the confidence level of the consumers in Canada remains above the 2020 average. As per a report presented by the new Bloomberg Nanos Canadian Confidence Index (BNCCI), more Canadians seem to have been growing confidence in the market.
The Bloomberg Nanos Canadian Confidence Index (BNCCI) takes a measurement of the economic mood that Canadians hold on a weekly basis that takes in several aspects of the Canadian economy, such as overall strength, job security, real estate development and management in the neighbourhood, as well as their personal financial condition. All of these serve as a proper foundation that also holds the included variables. The survey is divided into subcategories. The first one is the Bloomberg Nanos Expectations Sub-index that takes into account the forward views. The second one is the Bloomberg Nanos Pocketbook Index that observes the personal economic conditions of the individuals who participate in it. Ever since the year 2008, this longitudinal data on the index has played a major role in providing data for the decision-makers.
The BNCCI was produced by the Nanos Research Corporation (which has its headquarters in Canada). It was founded while operating in Canada and the United States of America likewise. The data presented in this index is completely based on random interviews. These interviews put forward the views of a thousand Canadian consumers in a period of four weeks. The views of the respondents are put together into a diffusion index ranging from 0 to 100. The score of 50 is an indication that both positive and negative views are "a wash." If the score is above 50, it suggests an overall net positivity in the views, and in case the score is below 50, the index suggests net negativity in the views of the consumers. This is how they calculate the economic mood of Canadians.
When it comes to gaining fresh data, the BNCCI index has been registered as 53.48 in December. The reading shows the total 52.49 that it hovers over. This shows the recorded four weeks prior but also remains below the twelve months high of 57.06.
So, what exactly does the Bloomberg Nanos Pocketbook Index seek to know through the interviews. Here are some of the questions asked in this survey:
- When you think of your personal finances, are you doing better than before, worse than before, or has there been no difference at all over the past year?
- How would you describe your job? Would you describe it, in the current situation, as completely secure, somewhat secure, or not somewhat secure?
- How do you think the Canadian economy will be in the next six months? Do you think the economy of Canada will become more strong, weaker, or will there be no change at all?
- In the upcoming six months, do you think that the estimated value of the real estate in your neighbourhood will increase, decrease, or will it remain the same?
On the other hand, the Bloomberg Nanos Expectations Index, which does surveys based on the Canadian consumers' outlook of the economy as well as the real estate prices, has been at 49.81 in the current week as compared to the 47.47 score that it was at four weeks prior. This means there has been a general negative outlook on the Canadian economy.
To get the latest news, property buying or selling tips and much more, check out our full blog.