BOC survey highlights:
- Prior was +8
- Senior loan officer survey +4.4 vs +1.4 prior
- Credit conditions tightened, especially resource firms
- US growth, lower dollar improving business outlook
- Sees dampened outlook for firms tied to resources
- Surveys point to continued slack in the labor market
- Intentions to invest 'more widespread'
- Hiring intentions 'modest'
- Overall, inflation expectations are little changed since the summer survey
- Senior loan officer survey
- Business outlook survey
Ignore the headline, the jobs survey in the report is a concern. The metrics for hiring difficulty are at the lowest since 2009.
Combined with today's rise in Canadian unemployment, it paints a picture of a slowdown in the economy.