Jul 14, 2026
Many Canadians say they’re managing their own finances reasonably well, but they’re far less confident about where the country’s economy is headed.
A new Leger survey found that while 60% of Canadians rate their household finances as good or very good, nearly twice as many (61%) believe the Canadian economy is currently performing poorly. The findings suggest many households are staying afloat despite ongoing concerns about inflation, housing affordability and rising fuel costs.
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“Perceptions of both national and personal finances remain largely unchanged this June, indicating Canadians continue to feel pessimistic about current economic conditions and the financial outlook,” the report said. “While there is no evidence of further decline, a few modest improvements in future expectations suggest that confidence may be beginning to stabilize.”
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Canadians see a difference between their own finances and the economy
One of the survey’s clearest findings is the disconnect between how Canadians view their own financial situation and how they view the economy as a whole.
While six in 10 respondents said their household finances are in good shape, only one-third (33%) described the national economy as good or very good.
Looking ahead, Canadians were also more pessimistic than optimistic about their own finances, although not nearly to the same extent as their views of the broader economy. One-quarter (25%) expect their household finances to worsen over the next six months, while 16% believe they’ll improve.
The gap suggests many Canadians feel they’re managing their own finances reasonably well, even if they remain uneasy about where the broader economy is headed.
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Spending plans are showing cautious signs of improvement
The Leger survey also hints that consumers may be feeling slightly less pressure to pull back on spending than they did earlier this year.
Nearly one-quarter of Canadians (24%) expect to spend more over the next six months, up four percentage points from Leger’s previous survey in January. Meanwhile, the share expecting to reduce spending fell six points to 30%.
Those numbers don’t point to a surge in consumer confidence, but they do suggest some households are beginning to feel more comfortable making purchases they may have postponed in recent months.
Nevertheless, expectations for the broader economy remain subdued. Just 15% of Canadians believe economic conditions will improve over the next six months, while 43% expect them to deteriorate.
Rising fuel costs and housing pressures continue to weigh on households
Persistent cost pressures remain one of the biggest reasons Canadians are feeling cautious.
Nearly three-quarters of respondents (72%) said higher gas and diesel prices have negatively affected their personal finances.
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In Ontario, the impact appears particularly noticeable. Almost three-quarters (74%) of Ontarians said rising fuel costs are affecting their household budget, while 40% said they’re going out less often and spending more time at home as a way to save money.
Housing continues to tell a different story depending on where Canadians live. British Columbians were evenly split on whether home prices had increased or decreased in their area, while nearly three-quarters of Manitobans (72%) believed prices had continued to rise.
While the Leger survey doesn’t point to a sharp improvement in Canadians’ economic outlook, neither does it suggest confidence is deteriorating. Instead, the picture is one of households that are adapting to higher costs while remaining cautious about what lies ahead.
With inflation, housing affordability and fuel prices still weighing heavily on budgets, many Canadians appear to be waiting for stronger signs that the economy has genuinely turned a corner.
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Steven Brennan is a freelance finance writer based in Vancouver, BC. He holds a BA and an MA from Maynooth University, Ireland. His work regularly appears at Canadian Mortgage Trends, Lowest Rates, Loans Canada and other Canadian and US brands, while also working as a ghostwriter for financial influencers.
