Nielsen reports that Canada is now in top 10 for global consumer confidence
Canadian small business owners may not have to wait for the economic indicators to turn around in order to see resumed small business growth, as Canadian consumer optimism spiked in the fourth quarter, according to a recent report.
The latest Nielsen Global Consumer Confidence Index, released Monday, found that Canadian consumer confidence increased by 4 points in the previous quarter, putting it a full 14 points above April 2009's figure.
This also puts Canada in the top 10 for global consumer confidence with an index score of 98. This is 11 points higher than the global average, and 16 points higher than the U.S.
"Over the past six months, Canadian consumers have stopped talking about recession and changed the conversation to recovery," said Carman Allison, marketing and communications director for Nielsen Canada. "We're more optimistic about our job prospects and personal finances, and are ready to open our wallets and put the recession behind us."
Consumer confidence figures can be a helpful business resource for Canadian small business owners, the Wall Street Journal recently reported, as it can predict future consumer spending. SME owners may want to plan their inventory and marketing efforts accordingly.
