-
Bank of Canada Q2 Business Outlook Survey shows the direct impacts tariffs are having on firms’ outlooks are less severe than in Q1
-
Q2 Business Survey Indicator -2.42 from -2.12 in Q1 (revised from -2.14)
-
Firms less worried by worst-case tariff scenarios
-
Tariffs and related uncertainty continue to have major impacts on businesses’ outlooks
-
Most firms expect to maintain current staffing levels and limit investment to regular maintenance over the next 12 months
-
Fewer export-focused firms expect the worst-case tariff-related scenarios that they envisioned in Q1
-
23% of firms expect inflation to be above 3% for the next 2 years, unchanged from Q1
-
43% of firms expect lower labor costs over next 12 months, 9% see higher labor costs
-
Consumer survey shows expectations for 5-year inflation have risen to 3.45% from 3.39% in Q1
-
24% of firms reported outright decline in sales over previous 12 months, down from 28% in Q1
-
28% of firms expect Canada to be in a recession over the next year, down from 32% in Q1
-
Balance of opinion on indicators of future sales drops to -6 from +22 in Q1
This article was written by Greg Michalowski at investinglive.com.
