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26/08/2009 -
If American consumers can find a reason to be confident about the economy, their Canadian counterparts should be able to as well, as the Canadian economy has been faring better than its southern neighbours during the global recession.The latest Conference Board report found that the U.S. Consumer Confidence Index rebounded from two months of declines to reach 54.1 in August - a sharp increase from the 47.4 recorded for July.
In addition, the Present Situation Index and the Expectations Index both posted gains, as business conditions and labor market assessments grew more positive.
This news bodes well for the upcoming Canadian consumer confidence report, as Canada's unemployment numbers have been continually better than America's numbers.
As the recession fog starts to lift in America, Canada, and other major global countries, the trend of consumer confidence is expected to continue its upward growth. This will likely come with increased consumer spending, as people start having more money in their pockets and more faith in the economy.
Therefore, this is an important time for merchants to implement payment card processing solutions - if they haven't already - as stores and businesses that are ready to accept all types of payments will get the most out of the economic rebound.
