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Survey Insights on Business Conditions

In-depth analysis of the Canadian Survey on Business Conditions, with responses from over 15,000 companies each quarter, including their key obstacles, expectations for the future and views on emerging issues.

Stephen Tapp

Chief Economist, Canadian Chamber of Commerce

Q3 2023 Survey Overview

The outlook for Canadian businesses weakened noticeably in the third quarter, according to Statistics Canada’s latest Canadian Survey on Business Conditions (CSBC). Businesses expect sales and hiring to slow in the near term. With cost challenges remaining pervasive, profits are expected to shrink. The outlook is most concerning in Ontario (particularly for Toronto) and British Columbia, whereas Quebec continues to have the most optimistic outlook in the country.

Canada’s GDP unexpectedly contracted in the second quarter, and the CSBC provides new evidence of ongoing turmoil in the third quarter as the transportation sector was hard hit by the nearly two-week-long port strike at the start of July, adding to disruptions from forest fires.

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Previous Reports

Canadian Survey on Business Conditions Report (Q1 2023)

Canadian Survey on Business Conditions Report (Q4 2022)

Canadian Survey on Business Conditions Report (Q3 2022)

Canadian Survey on Business Conditions Report (Q2 2022)

Canadian Survey on Business Conditions Report (Q1 2022)

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