With all economic indicators showing positive performance, consumer confidence among Canadians has increased for the third consecutive quarter, according to a recent survey conducted by Decima Research Inc., in conjunction with Investors Group.

Based on a nation-wide survey conducted last month, the Decima-Investors Group Index of Canadian Consumer Confidence has risen to 90.9, up from 86.5 in February, and almost 20 points above the level recorded last September.

This latest trend coincides with a comparable rise in consumer confidence across the U.S. The Index of Consumer Sentiment published by the University of Michigan rose to 96.3 in May, up from 90.7 in February and now well above the 92.0 level recorded 12 months ago.

The Canadian poll is conducted on a quarterly basis. It is modelled closely on the University of Michigan’s Index of Consumer Sentiment, and provides for direct Canada-U.S. comparisons.

This latest trend is not taking place equally across the country. For the third straight quarter, it is Quebecers who show substantial growth and now lead the country in economic confidence (95.6, up 6.5 points).

Ontario follows in close second (93.5), while B.C. continues to trail the rest of the country (79.9).

Although most regions have experienced some improvement over the past quarter, consumer confidence has stalled in the Prairies, recording marginal declines in Manitoba/Saskatchewan (85.2, down .2) and Alberta (87.0, down .3). In contrast, Atlantic Canadians have improved in outlook the most over the past quarter (90.0, up 6.6).

Confidence in economic conditions continues to rise with household income and decline with age, but growth has taken place in all demographic strata over the past quarter.

“This latest survey suggests that the economy and personal finances are becoming less of a concern for most Canadians, allowing them to turn their attention to other interests and issues”, comments Dr. Keith Neuman, senior vice president at Decima Research.

The results are based on a Decima Express national telephone survey conducted with a representative sample of 2,017 Canadians (18 years and older) between May 17 and 26, 2002. A sample of this size will provide results that can be considered accurate for the population overall to within plus or minus 2.2 per cent, 19 times out of 20.

The survey is based upon five questions that ask respondents about their perceptions of current and future economic conditions.