Ongoing global stock market turmoil continues to zap consumer confidence
Posted Aug 18, 2011 11:31:44 AM.
This article is more than 5 years old.
A new survey released by the Boston Consulting Group says financial insecurity across the country is on the rise.
Back in the spring, 28 per cent of Canadians stated they felt they were in financial trouble and that number is now running at 33 per cent.
Robyn Ridesic with BCG’S Toronto office says more than 40 per cent of people are also planning to trim non-essential spending.
Ridesic says another concern is an increasing number of women are also voicing economic worry, which doesn’t bode well for the economy, because women control over 70 per cent of household spending in Canada.
She says those who still plan to spend say they won’t be opening their wallets or purses unless it’s a great bargain.
