December 27, 2015 1:21 pm
Updated: December 27, 2015 1:34 pm

Canadians cautiously optimistic about national economy, personal finances

Make 2016 the year of better money management.

Denis Beaumont / The Canadian Press Images
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Half glass full or half glass empty? It appears as though slightly more Canadians are the former with regards to our economic outlook.

A recent Ipsos poll commissioned by Global News found 53 per cent of Canadians polled felt “good” about the Canadian economy for 2016.

It’s a number that’s down from last year when 62 per cent of people polled were optimistic about 2015.

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Over the coming years, the newly-elected Liberal government is promising to run a $10-billion deficit, a choice Prime Minister Justin Trudeau recently defended. He plans to invest in infrastructure to boost the economy overall.

READ MORE: Because it’s 2015: How is PM Trudeau going to deal with Canadians’ economic concerns?

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People in British Columbia are the most optimistic (60 per cent), whereas people in Alberta and Quebec are the least (39 and 47 per cent respectively).

Despite our optimistic outlook, Canadians are less impressed with the country’s overall economy this year compared to last year.

The poll found only 36 per cent of respondents called this year’s Canadian economy “good,” when in 2014, 56 percent of respondents did.

READ MORE: Oil crash ‘dire’ but slump may be reaching bottom: Alberta minister

The province least likely to think the economy did well this year is Alberta, (no surprise there.) The province was hit the hardest by plunging oil prices this year and only 18 per cent of respondents from that province rated the country’s economy as “good.”

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Personal Finances

Close to three quarters of Canadians are optimistic about their personal finances for 2016.

Fifty-eight per cent of those same respondents called they’re own personal finances this past year good – a number that’s down two points from last year’s poll.

Out of all of us, the Prairies (minus Alberta) are the most optimistic with 77 per cent of respondents in Manitoba and Saskatchewan believing 2016 will be a good year financially for themselves and their families.

READ MORE: Here’s how your chequebook will fare next year

It’s a thought that doesn’t necessarily translate to Canadians’ feelings about their retirement plans. Only 47 per cent of respondents believe 2015 was a good year for their savings, and while more people are optimistic about next year (61 per cent), that’s still down from last year’s numbers.

Despite the somewhat bleak outlook on their personal finances and the Canadian economy, most Canadians (81 per cent) still said it was a good year for themselves and their families – a number that’s up two points from last year.

 

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