Survey: Canadians see yearlong recession

March 2, 2009 at 8:23 AM
share with facebook
share with twitter

OTTAWA, March 2 (UPI) -- A national survey of Canadian consumers indicates 72 percent of respondents said they believe the current recession will turn for the better in a year's time.

The Gandalf Group's quarterly Consumerology survey of 1,637 adults last month for the Bensimon Byrne advertising company found 89 percent said they feel the economy is in decline, the Globe and Mail reported Monday.

That's in sharp contrast to last July, when 63 percent said the economy was growing, the report said.

As for the year-away scenario, 55 percent said they think the economy will be doing better, while 28 percent expect to be doing worse on a personal level.

Pollster David Herle said the findings raise a glimmer of hope for retailers and advertisers.

"If consumers, who are already retrenching in their spending, but are behaving in a way that they think this thing is going to be relatively short, we could well be in for another correction in consumer spending," Herle said.

The poll had a 2.4 percentage point margin of error, the publishers said.

Related UPI Stories
Trending Stories