We're less optimistic about the economy

"There is no doubt that recession has weighed on consumer sentiment on both sides of the border; however, there are burgeoning signs that the Canadian and U.S. economies are treading on a brighter path," said Craig Wright, senior vice-president and chief economist of RBC, in a press release. (Chris Roussakis/QMI Agency)

QMI Agency

, Last Updated: 3:03 PM ET

Canadians and Americans are feeling less optimistic about their financial futures, a new survey shows.

According to Royal Bank of Canada poll, 26% of Americans believe their finances will improve over the next couple of years, down five percentage points from February.

Canadians paint a slightly rosier picture at 34%, but that number is down two percentage points from January.

When it comes to the economy overall, Americans are gaining confidence, with 26% saying they believe it will improve next year, the highest level of confidence this year. In Canada, 28% polled said the same.

Unemployment fears are easing in the U.S., with 26% of Americans expressing concern over job loss. That's down six percentage points from last month. Also in the U.S., 34% reported that someone in their family or a personal friend recently lost their job due to economic conditions, down from 42% a month ago.

In Canada, unemployment anxieties have remained stable at 21% for the last two months.

"There is no doubt that recession has weighed on consumer sentiment on both sides of the border; however, there are burgeoning signs that the Canadian and U.S. economies are treading on a brighter path," said Craig Wright, senior vice-president and chief economist of RBC, in a press release.

"A more robust year of broad-based growth is materializing in the U.S., which bodes well for economic growth in Canada. Our domestic economy will also be buoyed by the sustained low interest rate environment, solid balance sheets across corporate Canada, as well as elevated commodity prices in the year ahead."

 


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