Despite Upbeat Fiscal Update, Canadians Pessimistic on Economy

May 1, 2026 – Toronto, Ontario – A new CityNews/Canada Pulse Insights survey finds that, despite a more optimistic outlook in the federal government’s spring fiscal update—highlighting stronger growth and a smaller deficit—the vast majority of Canadians view the state of the economy negatively and see little improvement ahead. Two-thirds of Canadians (67%) believe the national economy is on the wrong track, compared to one-third (33%) who say it is moving in the right direction. Further, the outlook for both national and local economic improvement is bleak: only three in ten believe either the national (28%) or their local (29%) economy will improve over the next 60 days. The poll was conducted over the weekend before the federal government’s spring economic update, delivered by Finance Minister François-Philippe Champagne on the first anniversary of the 2025 election that brought Prime Minister Mark Carney’s Liberals to power.

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