Similarly, 45 per cent thought profits would increase, compared with 63 per cent the previous quarter, and 44 per cent anticipated a climb in employee numbers, down from 56 per cent.īeyond inflation, supply chain challenges are also impacting business operations. Key organizational metrics took a corresponding sag, with 61 per cent feeling revenues would increase over the next 12 months, a positive forecast but well down from 74 per cent in Q1. Business optimism shrank to 46 per cent in Q2, down from 64 per cent in opening quarter of the year. ![]() Survey respondents are less optimistic about the prospects for their own organizations, but not to the same extent seen with expectations relating to the national economy. “Our results show that 70 per cent of these business leaders say inflation is currently hurting their businesses and 44 per cent expect that to continue for a year or more.” “Canadian business leaders are now clearly concerned about economic issues whereas, several months ago, the pandemic was top of mind.” says David-Alexandre Brassard, CPA Canada’s chief economist. ![]() ![]() It was cited by 29 per cent, with supply chain issues trailing at 14 per cent and no other perceived challenges surpassing the ten per cent mark. Respondents point to the rise in inflation as the top challenge to the growth of the economy. Toronto, Aug– Optimism about the prospects for Canada’s economy dipped precipitously in the last quarter, according to a new survey of senior business leaders conducted for Chartered Professional Accountants of Canada (CPA Canada).Īccording to the CPA Canada Business Monitor (Q2 2022) survey, optimism about the national economy over the next 12 months plunged from 40 per cent in Q1 to just 16 per cent in Q2, with pessimism expressed by more than three times as many people (53 per cent).
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