Tuesday, February 24, 2009

Canadians Confidently Buying Nothing

Go to the dealership
But you never cop nothin'
-50 Cent

Canadians are confident...
Canadians' confidence rises despite downturn

By John Morrissy, Financial PostFebruary 23, 2009
OTTAWA — Canadians were feeling more optimistic about the economy in February despite a decline that has shown no signs of loosening its grip on the housing market, the jobs sector or their depleted retirement savings, new polls show.

The shops are open but Canadians aren't spending and the finance minister is predicting more of the same in the months ahead.

Statistics Canada said retail sales plunged 5.4% in December compared to the previous month -- the largest decline in more than 15 years.

"Retailers knew it was going to be a tough holiday season, but today's results are somewhat softer than anticipated," said Mark Beazley of the Retail Council of Canada.

I'm not sure how you can reconcile these two data sets, but I'd love to see someone try.

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