Source: The Canadian Press

A Royal Bank survey suggests Canadians kicked off the year in a gloomier mood about their own finances and the national economy than last year.

The RBC Canadian Consumer Outlook Index found that less than half, or 43% of Canadians, believe the economy will improve over the next year.

That’s a notable decline from the 56% who expressed optimism about the economy last year.

Only 38% of Canadian say they feel their personal finances will improve in the next year, down from 45% a year ago.

The findings come as economic growth moderates and as Canadians digest staunch warnings from government officials about their borrowing habits.

Despite the cautious outlook of consumers, many experts predict the economy will continue to grow this year and next.