Canadian consumer confidence held relatively steady over the past three quarters, Decima Research and Investors Group said today.

According to a survey released by the companies, their index of consumer confidence stood at 87.9 in May 2005, down very slightly from 88.0 in February 2004 and November 2004.

South of the border, consumer confidence has been more volatile. The Index of Consumer Sentiment published by the University of Michigan stood at 86.9 in May; a decline of 7.2 points from 94.1 in the previous quarter. In June, the U.S. index rebounded to 96.0.

Decima said consumer confidence remained highest in western Canada. Alberta led the nation with a reading of 92.9, although that was down 0.4 points from February.

Confidence was lowest in Atlantic Canada at 84.4, down 3.5 points from the previous reading.

“Stable employment, relatively little recent movement in interest rates and a stable to dropping unemployment rate are all factors in strong and steady consumer confidence levels in Canada,” said Charles Feaver, vice-president of research at money manager Investors Group.

The confidence survey is based on a poll of 2,031 Canadians over the age of 18. The poll was conducted between May 26 and June 5. The survey is considered accurate to within 2.2 per cent, 19 times out of 20.

The survey asks respondents five questions about their perceptions of current and future economic conditions.