A rising currency and a red-hot labor market has sent Canadian consumer confidence to the highest in three years. The Bloomberg Nanos Canadian Confidence Index a gauge based on telephone polling climbed to 60.5 in the week ended Aug. 4, the highest since July 2014 and close to a record. The improving sentiment suggests Canadians are shrugging off the impact of higher borrowing costs after the Bank of Canada raised interest rates last month, focusing instead on an accelerating economy that has driven the jobless rate to the lowest since 2008 and the purchasing power benefits that come with a higher dollar. Read more here
As consumer confidence rises so too does the appetite of consumers to borrow. Unfortunately the confidence level of your customers cannot be magically monetized and included in your corporate balance sheet. This is another reason we are encouraging our clients to maintain vigilance in the management of their accounts receivable.
Should you be experiencing negative changes in the payment behavior of your customers CASE can help! As a collection agency Edmonton, collection agency Calgary and collection agency GTA we can apply our best professional efforts in order to make your past due accounts receivable a top priority.