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Canadian firms' outlooks dimmed after trade talks collapse, BoC survey finds
A survey of around 340 business leaders found weaker export sales and softer hiring intentions, while the business outlook indicator edged up to -0.33.
- On Monday, the Bank of Canada reported Canadian business sentiment deteriorated following the breakdown of trade talks with the United States, according to a survey of around 340 leaders.
- The breakdown of trade talks triggered new United States tariffs and Canadian counter-tariffs, weighing on firm outlooks; nevertheless, sentiment remains considerably stronger than at last year's peak of tensions.
- Weaker export sales and higher input costs partially reversed earlier improvements, the Business Outlook Survey reported, while firms' hiring intentions remain soft and wage growth expectations are largely unchanged.
- Separate Bank of Canada data shows more than 50% of consumers anticipate a recession over the next 12 months, as energy costs from the Middle East drive headline inflation higher.
- Money markets price in a Bank of Canada hold on October 28, though Governor Tiff Macklem remains ready to hike rates if inflation spreads before year-end.
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Kitco NEWSCanadian firms' outlooks dimmed after trade talks collapse, BoC survey finds
Canadian firms reported their outlooks had deteriorated after the collapse of trade talks with the United States but sentiments remained considerably stronger than at the peak of tensions last year,...
·Annecy, France
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Total News Sources4
Leaning Left0Leaning Right0Center3Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
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