Canadian business optimism improving, survey finds
The Business Expectations Index has moved into positive territory for the first time in a year. The index rose 2.7 points in the second quarter of 2024 from the first quarter, led by an improved outlook for sales.
Some of the key findings include:
- Businesses expect employment to grow as labour market conditions continue to find a balance between supply and demand.
- Eleven of 16 sectors are improving with finance and insurance leading the pack, followed by construction.
- However, agriculture, information and culture, and transportation are contracting.
- Firms with 1 to 4 employees say they are are stabilizing, though medium- and large-sized firms (100 or more employees) continue to be much more optimistic.
- Among underrepresented groups, visible minorities are the most optimistic, while LGBTQ2+ and women business owners are more pessimistic.
