Canadian consumer confidence fell back in February from record highs seen last November, Decima Research Inc. reported Friday.

The polling firm said its consumer confidence index fell 6.8 points to a reading of 86.6. That’s on par with figures seen in mid-2003.

The decline in consumer confidence shouldn’t be a long-term trend, Bill Chornous of Investors Group Investment Management, said in a release. Investors Group cooperated on the survey with Decima.

“A number of smaller factors such as residual holiday bills, cold weather, higher heating bills, and increased gas costs are eating away at consumers’ good mood,” Chornous said.

“While there is some concern about a jobless recovery — particularly in the U.S. — we’re seeing some real strength in the economy and the markets that bodes well for continued growth,” he added.

The drop in confidence was evident across Canada, but most pronounced in Alberta, where the reading slumped 12 points to 83.2. The poll was based on 2,027 telephone interviews conducted in mid-February. The survey is considered accurate to within 2.2. per cent, 19 times out of 20.

http://www.newswire.ca/en/releases/archive/March2004/12/c9472.html