The Conseil québécois du commerce de détail (CQCD)/Retail Council of
Quebec today released the results of a survey conducted by Altus Géocom
on Quebec consumers' spending intentions for the next 12 months.
Quebec households' perception of their financial situation
The last 12 months
According to the survey, 74 per cent of Quebec households see their
financial situation as having improved or remained stable over the last
12 months. This figure compares with 84 per cent in March 2008.
The other 26 per cent of households reported a deterioration in their
financial situation over the last 12 months. Among the reasons
mentioned were the rise in the cost of living (43 per cent), a
deterioration in working conditions (21 per cent), a drop in the value
of their investments (18 per cent vs. 3 per cent in 2008) and job loss
(14 per cent).
It is interesting to note the increased importance placed on the
decline in the value of investments as a cause for the worsening of
households' financial situation over the past year.
The next 12 months
Quebec households remain relatively optimistic with regard to their
financial situation for the next 12 months; in fact, 75 per cent (vs.
84 per cent in 2008) expect their financial situation to either remain
the same (56 per cent) or improve (19 per cent).
On the other hand, 17 per cent of households expect their financial
situation to worsen, with the majority of them (49 per cent vs. 69 per
cent in 2008) indicating an increase in the cost of living as the cause
of this deterioration. Other reasons mentioned include a deterioration
in working conditions (25 per cent vs. 15 per cent in 2008), a drop in
the value of their investments (10 per cent) and fear of job loss (10
per cent).
Quebec's financial situation
Quebecers are much more pessimistic concerning Quebec's financial
situation for the next 12 months; in fact, 62 per cent expect it to
deteriorate. This is a significantly higher proportion than last year,
when 37 per cent of Quebecers were pessimistic in this regard.
"We can conclude that, in general, Quebecers are less optimistic than
they were last year about Quebec's financial future but their
confidence in their personal financial situation has not been shaken to
the same extent," notes the CQCD's president Me Gaston Lafleur.
Spending intentions
Purchases
The survey reveals that 24 per cent (vs. 27 per cent in 2008) of
households plan to make a major purchase in the next 12 months. The
situation is stable.
Once again, automobiles top the list of big-ticket purchases planned
(10 per cent of households); they are followed by household appliances,
furniture, household articles, and computer equipment, at 4 per cent
each.
With regard to everyday purchases, Quebecers expect to spend less in the coming months.
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