Canadians’ Pessimism About Economy Is Fading Despite Trade War, Poll Says

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Or sign-in if you have an account.Canadian and US flags at the Canada-US border in Saint-Bernard-de-Lacolle, Quebec, Canada, on Tuesday, June 30, 2026. US trips by Canadian residents are down about 30% from before Trump's return to office, according to Statistics Canada data. Photographer: Andrej Ivanov/Bloomberg Photo by Andrej Ivanov /Bloomberg(Bloomberg) — Canadians are shaking off months of economic pessimism as worries about weak growth and higher energy prices fade.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe Bloomberg Nanos Canadian Confidence Index rose to 52.55 in the week ended July 24, up from the recent trough of 46.31 at the beginning of April. A reading above 50 indicates net positive views.While the gauge remains below its historical average, Canadians are becoming less gloomy about the economy. The share of respondents who see it worsening over the next six months fell to 34.4%, the lowest reading since November 2024, the month Donald Trump was elected as US president.The survey shows Canadians are feeling better about their wallets, too. The proportion of respondents saying their finances are worse off than a year ago also fell to 34.4%. That’s about where it was at the start of the US-Iran conflict in February.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe data back up some of the more positive views presented by the Bank of Canada this month, when policymakers held borrowing costs steady for a sixth consecutive meeting.“After stalling over the past year, economic growth looks to have resumed in Canada,” Governor Tiff Macklem said on July 15. “While US trade policy continues to be a headwind, consumers have been resilient and businesses are adapting.”Retail data released Thursday by Statistics Canada also showed signs of consumer resilience, with growth in purchases broadening beyond gasoline and the agency forecasting a sixth consecutive increase in sales.Still, the stabilization of sentiment may prove temporary. Trump escalated his tariff threats against Canada last week, potentially injecting more uncertainty for consumers and businesses. Oil and gasoline prices have also risen since armed conflict between the US and Iran reignited.The Bloomberg Nanos Canadian Confidence Index is based on a four-week rolling average of interviews with about 1,000 Canadians. It measures perceptions related to personal finances, job security, economic strength and real estate values. The poll has a margin of error of about 3 percentage points, 19 times out of 20.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.