Point of View: Year End Update on the BC Economy 2009

British Columbians Have Their Say on the Economy, Personal Finances and Spending

13 pages, 9 charts

Download this detailed Point of View to gauge British Columbian's opinions and attitudes as it relates to the economy today and expectations for the next 12 months.

While the data in this report paints a bleak overall picture, there is still a sense of cautious optimism. For example, though British Columbians do expect to see some improvement in the economy over the next 12 months, the survey doesn’t tell us exactly how much improvement people expect. Perhaps the best signal is that only 4-in-10 residents say they expect to see their personal financial situation improve over the next year. Part of the tempered optimism is likely due to public expectations that overall economic improvements will be negated somewhat by rising costs for things like gasoline, housing and interest rates (to pay for that housing).

The net effect is that British Columbians are intending to continue to play it safe with their spending. Most plan to keep spending at current levels over the next year and very few are planning to increase their spending this upcoming holiday/Christmas season.

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