VANCOUVER (NEWS1130) – With Christmas just two and a half weeks away, a new survey suggests our confidence in the economy is waning.

The Canadian Consumer Confidence Index declined by about five points in the fourth fiscal quarter, going from 77.5 to 72.6. The Harris/Decima survey out today says one quarter of us believe we’ll be better off financially one year from now; 14 per cent feel we’ll be in a worse condition.

On the street today, Karen tells us she’s worried about the rising inflation rate. “With everything rising in cost, I don’t see the employers compensating us with living increases.”

When it comes to Christmas spending, does she expect to spend more or less than last year? “Probably about the same; it depends on what I find — and if I do find anything!”

Forty-one per cent of us believe now is not a very good time to make a major purchase.

An analyst with the survey says the data shows while Canadian consumers remain more confident than our American counterparts, that gap may be closing as we head into the new year.

Many of us nervous about RRSPs

Most British Columbians think they’re on the right track to their ideal retirement lifestyle but they don’t seem too sure about how they will actually get there.

A BMO Leger Marketing survey shows 60 per cent of us feel confident in our ability to save for retirement. But 72 per cent are getting increasingly nervous about the performance of their RRSPs, given the current state of the economy and recent market volatility.

Half of British Columbians don’t even have RRSPs. Among those that do, British Columbians are the most likely in Canada to contribute less to their RRSP than last year.