Canadians’ confidence in economic conditions has rebounded this fall following a decline over the summer according to a new poll comissioned by Investors Group.

This latest movement outpaces a similar trend in the United States, and reflects an increasingly positive attitude among consumers about what will happen in the coming months.

Based on a nation-wide survey conducted by Decima Research Inc. in November, the Decima-Investors Group Index of Canadian Consumer Confidence now stands at 93.4, up 7.9 points since August, which is the highest level recorded since the measure was introduced in Canada in September 2001.

“Not only are more Canadians more optimistic about the economy, but more feel better off financially than a year ago, and more expect to be better off next year,” said Charles Feaver, VP of research for Investors Group, in a news release. “This optimism about personal financial well-being cuts across all age groups and suggests growing confidence sparked by the number of jobs in the economy and the strong performance of the stock market.”

In the United States the Index of Consumer Sentiment published by the University of Michigan (which is directly comparable to the Decima-Investors Group Index) increased to 93.7 in November, up 4.4 points since August.

The increase in consumer sentiment is evident across Canada except in the Atlantic region and Quebec, where the index has remained virtually unchanged from August. The increase in confidence is most notable in Ontario (up 11.3 points to 95.6) and Alberta (up 11.2 points to 95.2).

The poll found that there has also been an improvement in how consumers view 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 by 5.6 points in November (up to 87.7).

This latest upward movement mirrors what has taken place in the U.S. over the same period, where the expectations sub-index has also increased by 5.6 points, to 88.1. The U.S. figure remains well above the low recorded in March, at the launch of the war in Iraq.