Canadian consumer confidence recorded its smallest monthly gain since the start of the pandemic, another sign the swift economic recovery of summer is petering out.

The Bloomberg Nanos Canadian Confidence Index, a composite measure of financial health and economic expectations, ended September at 53.1, little changed from 52.7 at the end of August. It had fallen to a record low of 37 in April, from about 56 just before the pandemic.

The slowdown of consumer confidence has been predicted by economists who say the fall and winter months will bring a slower recuperation of the economy.

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