Although consumer confidence is unchanged in Canada over the past quarter, expectations for the future are more positive according to the latest results of the quarterly Decima-Investors Group Index of Canadian Consumer Confidence survey released today.

Based on a nation-wide survey conducted in November, the reading on consumer confidence now stands at 88.0, up 0.4 points since August.

In the United States, the Index of Consumer Sentiment published by the University of Michigan stands at 92.8, down 3.1 points from 95.9 in August.

The largest increase in confidence observed this quarter is in Alberta (up 8.4 points to 97.0) while confidence in Quebec has substantially declined (down 6.7 points to 83.6) and is now at its lowest level since February 2003.

There has been a slight increase in consumer expectations about economic conditions into the future (over the next year and beyond). The consumer expectations sub-index (one of two components comprising the overall index), has increased 2.2 points since August, and now stands at 85.6 in Canada.

Meanwhile, consumer expectations are down in the U.S. this quarter. The U.S. expectations index now stands at 85.2, down three points since August, and is now comparable to the Canadian figure.

“The differences in the way sentiment about economic prospects have changed in the various regions of Canada are striking,” said Charles Feaver, vp of research at Investors Group. “Consumers in Alberta, B.C. and the Atlantic Provinces are increasingly positive in their outlook on the economy, while consumers in central Canada, and particularly Quebec have become significantly more cautious about the future.”

“The wait and see attitude of Canadian consumers likely reflects the mixed economic signals they are seeing in the news these days,” said Tony Coulson, vp, public affairs at Decima Research. “While the strengthening of the dollar and the growth in the TSX may be seen in positive terms from a consumer point of view, both prices and interest rates increased over the quarter.”