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Three of these 4 pillars remained regular within the 2023 survey, however belief within the economic system fell to a rating of 40 from 43 the 12 months earlier than.
60% of respondents say they imagine Canada is already in a recession, 68% imagine that Canada is heading into recession in 2024. 65% of respondents imagine that governments and different establishments usually are not doing sufficient to deal with fiscal points dealing with Canada.
“Whereas Canadians are feeling comparatively steady with their present private monetary state of affairs, there are important considerations about the place issues could possibly be headed within the 12 months forward and in our skill to efficiently navigate this uncertainty,” stated Damon Murchison, President & CEO, IG Wealth Administration in a press launch saying the survey outcomes. “This could, partially, be attributed to the apprehension felt during the last 12 months about the price of residing, rising rates of interest and intensifying world tensions.”
Regardless of latest knowledge displaying a slowdown in inflation, 49% of respondents raised considerations that inflation will proceed to rise in 2024. 20% stated the power to keep up their present way of life was one among their greatest considerations in 2024. 62% stated they had been involved about housing affordability and 39% stated they had been involved about meals prices. 56% stated they had been saving much less for retirement as a consequence of a better value of residing.
There was one brilliant spot within the survey outcomes. Canadians working with a monetary advisor had been 29% extra assured total than these with out an advisor. 90% of respondents who work with an advisor had been assured their monetary plan might stand up to financial downturns.
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