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Canadian Business Sentiment Still Tepid

Canadian Business Sentiment Still TepidCanadian Business Sentiment Still Tepid

Overall business sentiment in Canada remains tepid as firms adjust to a drop in commodity prices and a weaker Canadian dollar that helps some and hurts others, according to a Bank of Canada survey released on Friday, Reuters reported. The bank’s quarterly business outlook survey showed companies had experienced a flattening in sales growth over the past 12 months. But forward-looking indicators of activity improved, including expectations that sales will see some acceleration over the next year. Even there, however, companies’ views diverged. Firms that had restructured or refocused their efforts thought they were in a better position to benefit from strengthening foreign demand, but the outlook remained weak for firms in the energy sector and supply chain, and those exposed to household spending. The majority of companies especially in the manufacturing sector, expect a boost to their sales from an improving US economy.

Financialtribune.com