As Prime Minister Justin Trudeau’s government prepares to introduce the fourth budget of its mandate in a crucial election year, Canadian anxiety about the country’s economic outlook is on full display.
A new public opinion poll from the non-profit Angus Reid Institute finds four-in-ten Canadians (40%) saying they expect the economy to worsen over the next 12 months – a greater number than those who expect it to improve (24%) or stay the same (39%).
Further, they are disinclined to see this coming year as a good time to purchase big-ticket items, planning to keep their wallets more tightly as micro-economic concerns remain top of mind.
Most Canadians (55%) say they expect the next 12 months to be a bad time to make a major purchase, and nearly half (48%) are worried that someone in their household could lose a job because of the economy.
More Key Findings:
- While Canadians are apprehensive, overall, about economic questions in this election year, it is respondents in Alberta and Saskatchewan who are feeling bleakest. Nearly half of each province’s residents believe their standard of living has worsened in the last year
- Alberta and Saskatchewan residents diverge in their expectations for the future, however, with Albertans more likely to expect their standards of living to improve (23%) than worsen (19%) in the next year, and Saskatchewanians breaking the other way (35% say worsen, 24% improve)
- Political leanings also drive opinion, with those open to voting for the opposition Conservative Party generally much more pessimistic about the economy than those in the Liberal or New Democratic Party spheres