Business conditions, consumer confidence up: survey

The Bank of Canada released its Business Outlook Survey as well as its Survey of Consumer Expectations this week.

The findings show that business conditions have improved in the first quarter of 2024. It’s the first positive change in almost two years. The survey also found that fewer Canadian businesses are planning for a recession this year. There was more good news as labour constraints and supply chain challenges are less of a problem. However, businesses reported facing new burdens from taxes and red tape.

Consumers said inflation and interest rates are affecting their household budgets, though there was less pessimism about the future of the economy and job prospects.