BOC Q4 overall business outlook survey +2.2 vs +2.8 prior

Author: Adam Button | Category: Central Banks

Highlights of the Bank of Canada business outlook survey

  • Prior was +2.8
  • Firms say sales prospects generally remain positive
  • Firms expect sales growth to stabilize
  • Plans to increase investment and employment are widespread, especially in the service sector
  • Views that labor market pressures have intensified continue to be pervasive, although less so than in Q3 survey
  • First expect input and output price pressures to rise at a somewhat greater pace than over prior 12 months

Balance of opinion measures:

  • Sales grew over past 12 months 22% vs 12% prior
  • Future sales -1.0% vs +15.0% prior
  • Investment intentions +25% vs +33% prior
  • Hiring plans +41% vs +39%
  • Input prices rising +7% vs +26% prior
  • Output prices +10% vs +12% prior

From the senior loan officer survey:

  • Credit conditions unchanged for most firms but indicators point to slight tightening
  • Overall Q4 housing lending conditions unchanged over past three months
  • Approval rates for mortgage lending were lower in Q4
  • Inflation expectations roughly unchanged

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