29 Nov 2011

Consumer Confidence Rebounds on Heels of Shipbuilding Contract Award

HALIFAX:  Consumer confidence has increased significantly in the Halifax Regional Municipality in the wake of Irving Shipbuilding’s winning bid, according to the most recent Urban Report Survey from Corporate Research Associates Inc. Consumer confidence in the Municipality now stands at 100.3, up from 94.3 in the last quarter and at the highest level in the past nine months. Consumer confidence had otherwise been travelling downwards in the past year.

Current consumer confidence increases with both household income and educational levels and, most importantly, is now highest among those in the youngest age categories (18-34), the group that will most benefit from this contract over the long-term.  Consumer confidence has increased across the Municipality, but is highest in the former Cities of Halifax (103.5) and Dartmouth (102.3), the areas likely to benefit the most from the shipbuilding contract.

“The award of the shipbuilding contract to Irving Shipbuilding appears to have had an immediate and positive impact on consumer confidence”, according to Don Mills, President & CEO of Corporate Research Associates Inc. “In the current economic environment, this is a game changer in terms of increasing optimism and an early indication of the importance of this contract to the future of the province and its economic prospects.”

These results are part of the CRA Halifax Urban Report, an independent survey of Halifax Regional Municipality residents. The results are based on a sample of 400 adult residents, conducted from November 2 to November 16, 2011, with results accurate to within +4.9 percentage points, 95 out of 100 times.

For more information, please contact: Don Mills, President and CEO at (902) 493-3838.

View full media release here.

Amanda Bates