Canadian Consumer Confidence Falls Below Neutral Amid Housing Market Worries

Canadian consumer confidence has fallen below neutral for the first time in five months. The Bloomberg Nanos Canadian Confidence Index (BNCCI) dropped to 49.86, down from 52.81 four weeks earlier.

The index measures Canadians' views on their current and future economic situations. A reading above 50 is considered positive.

Expectations for the economy and housing market are driving the decline in confidence. The Bloomberg Nanos Expectations Index fell to 44.82, down from 51.61 four weeks earlier.

Only 28% of respondents expect real estate values to rise over the next six months, a drop of more than 10 percentage points.