TORONTO, Dec. 12, 2012 /CNW/ - According to a Sun Life/Ipsos Reid study released today, almost two-thirds of Canadians (63 per cent) are concerned that Canada's economy will be hurt by the impact of the U.S. fiscal cliff, an unprecedented predicament created by a package of tax increases and spending cuts that could be implemented in the U.S. in the new year.
The Annual Check-Up Survey, commissioned by Sun Life Financial, polled 1,277 respondents examining how Canadians feel about personal finances and the economy at the end of this year.
The survey also found that 54 per cent of Canadians are not better off financially than they were a year ago.
"Along with high debt levels and a slowing real estate market in Canada, the fiscal cliff situation in the U.S. is giving Canadians another reason to worry about the Canadian economy," said Sadiq S. Adatia, Chief Investment Officer, Sun Life Global Investments.Regional highlights from Sun Life's Annual Check-Up survey include:
- Ontarians (31 per cent) and Quebecers (28 per cent) are more likely to be pessimistic about the Canadian economy in 2013. They were the only provinces above the national average (26 per cent).
- Seventy per cent of Ontarians are concerned about the effects of the U.S. fiscal cliff on the Canadian economy -- the highest rate of concern in the country.
- Sixty per cent of Ontarians and 57 per cent of Atlantic Canadians say they are not better off financially than they were a year ago. The national average is 54 per cent.
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