Canadians Bullish on 2017 Outlook

January 3, 2017

– These are some of the findings of an Ipsos poll conducted between December 15 and 21, 2016, on behalf of Global News. For this survey, a sample of 3,004 Canadians from Ipsos’ online panel was interviewed online.

CANADA – Canadians are forecasting an across-the-board improvement in 2017, despite anticipating spending more of their money on life essentials and cutting back on entertainment and leisure, according to a new Ipsos poll conducted on behalf of Global News.

Highlights include:

  • Nine in ten (90%) expect 2017 to be good (33% very/57% somewhat) for their family, compared to 80% who said 2016 was good to their family.
  • Most (85%) working Canadians expect 2017 to be good (28% very/57% somewhat) for their job and career, compared to 75% who said that 2016 was good for their career.
  • Three quarters (75%) expect 2017 to be good (18% very/57% somewhat) for their personal financial situation, while only 60% gave 2016 a positive assessment in this regard. Those aged 18-34 (79%) are more optimistic than those aged 35-54 (73%) or 55+ (73%).
  • Two in three (65%) expect 2017 to be good (13% very/52% somewhat) for their retirement plan/savings, but only 52% said 2016 was good for their savings. Millennials (67%) and Boomers (66%) are more optimistic than Gen X’ers (61%).
  • Six in ten (58%) expect 2017 to be good (9% very/49% somewhat) for the Canadian economy, an improvement from the 44% who said that 2016 was good to the economy. Those in British Columbia (63%) and Atlantic Canada (63%) are more optimistic for the economy in 2017 than those living in Ontario (60%), Quebec (57%), Saskatchewan and Manitoba (50%) and Alberta (48%). Millennials (65%) are also considerably more optimistic than Gen X’ers (58%), and Boomers (52%).

Looking at who will be spending more on various categories, Albertans are most likely to anticipate spending more on food this year (37% of Albertans vs. 31% of all Canadians), Quebecers will spend more on leisure this year (22% vs. 16% of all Canadians), Albertans will spend more on savings this year (36% vs. 28% of all Canadians) and Ontarians will spend more on housing and utilities this year (38% vs. 32% of all Canadians).

Millennials will spend more on vacation this year (30% vs. 23% of all Canadians), entertainment (25% vs. 16% of all Canadians), savings (46% vs. 28% of all Canadians), paying down debts, (38% vs. 29% of all Canadians), and clothing/life essentials (27% vs. 20% of all Canadians).

Looking at who will be spending less on various categories this year, British Columbians and Albertans are most inclined to spend less on vacation (28% vs. 24% of all Canadians) and clothing/life essentials (21% vs. 15% of all Canadians) this year, Albertans will spend less on entertainment and leisure this year (28% vs. 20% of all Canadians), and British Columbians anticipate spending less on transportation and gas this year (18% vs. 11% of all Canadians).

Boomers are more likely to spend less on vacation this year (28% vs. 24% of all Canadians), more women than men will spend less on leisure and entertainment this year (25% women vs. 15% men) and clothing/life essentials (20% women vs. 9% men), while Boomers will save less for the future this year (28% vs. 18% of all Canadians).

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