The economy may not have bounced back, but consumer confidence is on the upswing.
Royal Bank of Canada released its Consumer Attitudes and Spending by Household Index, revealing that despite declining in the fall, consumer confidence jumped in the past month to twice what it was one year ago. This confidence was driven by optimistic expectations for the near-term economic future. The RBC Index for December 2009 stands at 39.0, up 8 points from November’s 30.2 reading. A year ago, in December 2008, the RBC Index stood at 15.3.