The prospect of the global economy heading back into recession has left Canadians a lot less optimistic about the country's near-term economic prospects, a poll by Nanos Research suggests.
The survey found that the proportion of Canadians expecting a stronger economy in the next six months plummeted to just 16%. That's a startling drop from the 29.2% level recorded in the last survey in June.
Conversely, the proportion of those surveyed who predicted a weaker economy jumped to 38.9% from 23.6%.
Continuing uncertainty over the European debt crisis and the political deadlock in the U.S. appear to be having an effect on consumer confidence in Canada, the research firm said.
"These two forces have created a chill effect among consumers in Canada and have contributed to a further erosion of Canadian consumer confidence," president Nik Nanos told Bloomberg.
The Nanos Expectations Index, which looks at consumers' perceptions of economic direction as well as real estate prices, fell to its lowest level since 2009.
