CONSUMER CONFIDENCE ON RISE

Consumer confidence in Canada continues its climb for a ninth-straight week amid phased reopenings across the country. The Bloomberg Nanos Canadian Confidence Index, a weekly composite measure of financial health and economic expectations, rose to 46 last week. That’s up nearly 10 points from early May and is slowly nearing the 50-point mark, above which views are considered net positive. Rising confidence in Canada coincides with the gradual reopening in Ontario and Quebec, which accounted for a majority of COVID-19 cases in the country and thus remained shut a longer period. But earlier this month, a flattening of the COVID -19 curve let both provinces allow salons, restaurants and malls to resume operations. Quebec has opened even further, now reopening all sectors of the economy except festivals, combat sports and sleep-away camps.