Canadian businesses are stuck in a cautious near-term holding pattern according to the Canadian Chamber's new Business Expectations Index (BEI). Last week, their Business Data Lab released its Q1 2024 Canadian Survey on Business Conditions Report, which included the launch of this brand-new tool.
The Report: key takeaways
- Outlook for Canadian businesses remains weak
- Larger businesses have been better able to navigate cost-related challenges
- Smaller businesses and interest-rate sensitive industries are most affected
- Those with persistent labour shortages also continue to be squeezed
- Weak consumer demand continues, with negative growth in spending
"Operating a business will continue to be challenging in 2024, with affordability concerns exacerbated by upcoming mortgage renewals for many households. While we are moving in the right direction this quarter, a more significant rise in business optimism is likely still a few quarters away." ~ Andrew DiCapua, Senior Economist, Business Data Lab, Canadian Chamber of Commerce
Download this Report.
The Tool: Business Expectations Index
The BEI, a timely and forward-looking measure of business sentiment, allows business owners, economists, market watchers and policymakers to gain insights across 70 different business contexts.
Explore the newly launched Business Expectations Index.
This report is available to us through our membership with the Canadian Chamber of Commerce.