Canadians’ interest in investments regained ground early this month despite continued concerns about U.S. subprime lending and swinging equity markets, according to a national poll for Manulife Financial.
The quarterly Manulife investment sentiment index gained seven points to reach +27, after losing 11 points in the previous quarterly poll in September.
“Canadians overall continue to remain generally positive about long-term investing, despite news about the dollar, sub-prime lending and other issues,” says Paul Rooney, president and CEO, Manulife Canada.
The survey of 1,000 Canadians by Maritz Research, in late November and early December, found eight among 10 investment categories and vehicles gained ground from the previous index reading in September.
Responding to a separate question, six of 10 Canadians polled said they’re better off now than five years ago, up from 56% a year earlier. Another 23% said they feel they are in the same financial position as in 2002, while 16% said they feel they’re worse off.
When asked about their financial goals for 2008, those surveyed said their top priority is to pay down their consumer debts. Twenty per cent chose overall debts as their top concern, down from 25% a year ago.
Paying down the mortgage ranked second, with 14% choosing to reduce their mortgage as their top priority. That’s identical to a year ago and just ahead of saving for retirement (10%). Nine per cent said saving for big-ticket item was their top financial priority for 2008, while 7% said their top concern is ensuring they have enough money if they become disabled or ill.
The quarterly index monitors how Canadians say they feel about investing in 10 different categories and vehicles. The index reflects the percentage of those who say they believe it is a good or very good time to invest minus those who feel the opposite.
Investor sentiment regains ground: Manulife
Majority of Canadians say they’ll enter 2008 financially better off than five years ago
- By: IE Staff
- December 20, 2007 October 31, 2019
- 10:30