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Canadian firms still positive about future, although enthusiasm wanes: BoC

OTTAWA - The Bank of Canada says Canadian firms remain upbeat about future prospects and the economy, although the level of enthusiasm appears to have dropped off somewhat.

The central bank's latest business outlook survey shows executives giving generally positive responses across a number of questions, from expectations on sales activity, hiring intentions and investment plans.

But in most cases, confidence levels dropped from the spring survey, which suggested firms were gearing up for stronger economy.

The bank analysis of the results is that businesses have not materially changed their expectations from the spring.

One positive, says the bank, is that business sentiment over export growth is gradually improving.

The survey of 100 representative companies was conducted between May 20 and June 12 and will inform the bank's new forecast on the economy, which will be released next week.

The Canadian Press

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