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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.

Patrick Gill

Senior Director, Operations & Partnerships, Business Data Lab, Canadian Chamber of Commerce

Q4 2023 Survey Overview

The outlook for Canadian businesses deteriorated further in the fourth quarter of 2023, according to Statistics Canada’s latest Canadian Survey on Business Conditions (CSBC).

Business pessimism has reached its highest point in two years. Sales and hiring are expected to turn negative to start the new year, while cost-related challenges remain the top obstacles for businesses.

With consumer confidence is at its lowest level outside the pandemic, our latest Local Spending Tracker data show that real consumer spending growth continues to be negative on an annual basis. The latest CSBC further illustrates that businesses are also feeling the impact of higher rates – specifically by raising their borrowing costs and reducing their sales.

This quarter’s report includes new and timely insights on loans from the Canadian Emergency Business Account (CEBA), regulatory challenges of hiring workers from other provinces and territories, and businesses’ intended actions to address employee skill gaps.

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Previous Reports

Canadian Survey on Business Conditions Report (Q3 2023)

Canadian Survey on Business Conditions Report (Q2 2023)

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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