According to a recent poll conducted by BC-based Research Co., most British Columbians believe the Canadian economy is in decline.
Furthermore, the majority of respondents believe the state of the economy will worsen in the coming months.
Only 2% of BC respondents said they believe that economic conditions were “very good,” though cumulatively, 33% said they believe the economy to be in good shape.
Overall, 61% said they believe economic conditions to be either “poor” or “very poor.”
When it comes to personal finances, at 45%, the majority of British Columbians believed their situations to be in good standing.
Conversely, 46% said their personal financial situations were not doing well.
When honing in on the respondents answers to this question, looking at the respondents’ annual income levels, nearly 30% of pollees from across Canada who made over $100,000 said their personal finances were either “poor” or “very poor.”
Meanwhile, 30% of those who made less than $50,000 still deemed their personal finances to be in good shape.
BC respondents were also asked what they think the future holds for the economy.
To this, 12% believed the economy will improve over the next six months, 45% thought it will remain steady, 36% believed the economy will decline and 7% said they were unsure.
When specifically looking at the prices of some commodities and financial markets, 67% of BC respondents think that gasoline will increase in the next half-year, 44% think real estate will go up and 68% believe that a new car will become more expensive.
Of note, a vast majority of 73% said they think the cost of a week’s worth of groceries will go up in the next six months.
Prime Minister Mark Carney ran on a platform of fiscal responsibility and experience in managing economies.
Carney is nearly one-year into his first term as the leader of Canada, and according to the Research Co. poll, most still have faith in him when it comes to economic matters.
The poll found that 57% of BC respondents believe Carney will make the right calls to help stimulate the economy, while only 40% have faith in Pierre Polievre, the leader of the Conservatives.
According to the latest data from 338Canada, if a federal election were to be held today, the Liberals would hold onto their position of power with 43%, while the conservatives would have 38% of the vote and the NDP would have just 8%.
What do you think about Canada’s economic situation at the moment? Do you agree with the findings of the poll?
Let us know in the comments.
