Businesses pessimistic about economy
Posted Jan 9, 2012 03:00:47 PM.
This article is more than 5 years old.
OTTAWA – The Bank of Canada says businesses are getting more pessimistic about the economy and their future sales prospects.
The bank’s latest quarterly survey finds indicators of business confidence remain well off post-recession highs across the spectrum, from sales expectations to investment and hiring intentions.
But they are most gloomy about sales. For the first time in almost three years, more firms expect sales growth to slow rather than to grow in the upcoming year.
Even those in the resource-rich west expect sales growth to slow, albeit coming off a strong performance in 2011.
Canada’s central bank says the survey suggests that businesses are concerned about the global economic situation and future demand for their products.
