• Firms expect sales to grow at slightly faster pace over next 12 months
• Survey shows a decline in overall opinion on employment, investment (machinery & equipment)
• Hiring and investment intentions in manufacturing more robust than other sectors
• Firms expect input prices to grow in next 12m but at slower pace. Lower commodity prices will be offset by drop in CAD
• Output prices to rise at slower pace to prior 12m due to strong competition
• Inflation expectations down. CO’s expect CPI in bottom half of BOC’s range over next 2 years
• Lending conditions nearly unchanged in Q4