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Monday, July 10, 2006

Albertans Confident Amid Rising Prices

Even with new housing price records being set every month, consumer confidence is up in the province. The following is an excerpt from a report done by the Conference Board of Canada.

Consumer sentiment continues to climb
Confidence reaches record levels in the Prairies
National consumer confidence – a significant indicator in projecting Canada’s housing market – continued to rise in the second quarter of 2006 despite rising prices and interest rates.

National confidence posted the third consecutive quarterly increase and reached the fifth highest level on record in the second quarter. The latest national increase reflected another new record for confidence in the Prairie region, and quarterly gains in Ontario and Quebec.

Confidence remains highest in the Prairie region where near-term expectations for job growth reached their highest level on record in the second quarter. Those expectations are being fueled by Alberta’s tight labor market and projections for strong economic growth in Alberta and Saskatchewan this year and next.

The outlook for household budgets in the Prairie region also reached the highest level in almost a decade. Combined with an upbeat near term outlook for job growth, enthusiasm about making major purchases is expected to remain high in the coming months.

The Conference Board of Canada measures consumer confidence on a monthly basis.

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