Bank of Canada business outlook survey: Overall sentiment is subdued ...Middle East

Future Sales Expectations at +31% vs +13%: Improved outlook with stronger demand expected, boosted by interest rate cuts More widespread plans to increase investment, well above historical averageRecession expectations at 15% vs 16%Further easing in capacity constraints, labor shortages less intense70% of firms planning normal-sized wage increasesSlightly higher but still between 2.5-3% range

Some key points:

Impact of US election becoming a key concern (40% expect negative effects)Four interest rate cuts occurred between June and survey periodFirms increasingly focused on strategic pricing and affordabilityOil & gas sector showing robust outlook due to TMX pipeline and LNG Canada

This is better than I was expecting given all the tariffs fears. It was conducted after the US election from Nov 7-27, though that doesn't capture the height of Trump's threats against Canada.

This article was written by Adam Button at www.forexlive.com.

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