Canadians among most optimistic about economy: Survey

Despite the financial chaos in Europe and weak pension returns over the past quarter, Canadians seem to be feeling pretty good.

According to a survey by the Brussels-based International Trade Union Confederation, market research firm TNS and Dutch consulting firm Anker Solutions, Canada is one of the most optimistic countries when it comes to the outlook on the state of the economy.

Brazil came out on top, with 69% of respondents saying their country is headed in the right direction. Canada came in a strong second: 61% of respondents expressing confidence in the country’s economic direction. As well, 60% of Canadian respondents said they feel their country’s economic situation is positive—coming in third behind Brazil (71%) and Germany (63%).

No surprise, pessimism was highest in Greece, where 91% of respondents said their country is moving in the wrong direction, and 97% admitted their country’s economic situation is bad or very bad.

“Canada is sitting pretty right now and, at the risk of sounding a little smug, is confident in where we are economically,” said Norman Baillie-David, vice-president of TNS in Canada and head of public opinion research.

But Canadian respondents didn’t say our country is perfect. The majority (52%) said the government needs to focus on austerity measures by investing in jobs and growth. Other areas that Canadians feel require more government action include affordable healthcare (80%), decent retirement incomes (70%), affordable education (66%) and unemployment benefits (58%).

“The most interesting thing about this global poll is that our confidence is not an endorsement of the current economic policies,” said Baillie-David. “Most Canadians are as skeptical about austerity measures as those in other countries, including Europe.”

There was also some pessimism expressed regarding future generations. The survey found that, globally, 66% of respondents feel future generations will be worse off—in Canada, that number jumps to 77%.

“We may be confident now for ourselves, but we evidently don’t feel as much optimism for our children,” said Baillie-David. “These results are pointing to some storm clouds on the horizon—not from the economy per se, but from an increasing feeling that we don’t have the ability to influence our own future. This may be what’s igniting the powder kegs we have seen with the students in Quebec and [those participating in] the Occupy Movement.”

Download the full survey.