Business Services Outlook 2017-18: Upturn in Economy Benefits Services Industries

The Conference Board of Canada, September 28, 2017
Recorded Webinar by
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Many of Canada’s business services industries have been negatively affected by weakness in the energy sector and economy over the past two years. But improving business confidence, an accelerating pace of job creation and an uptick in oil prices will lead to better performance in most of these industries in 2017.

Join Michael Burt for a webinar based on a new series of industrial profiles by The Conference Board of Canada. The Canadian Industrial Profile consists of five-year forecasts for each industry’s output, employment, prices, investment levels, trade, and financial performance metrics, among others.

Webinar Highlights

During this webinar, Michael will discuss the recent performance and five-year outlook for each of the following business services:

  • Real Estate -- Growth in the industry is expected to moderate this year as new measures take effect in an effort to re-balance hot regional markets such as Toronto and Vancouver.
  • Engineering -- The industry is staging a recovery in 2017, due in part to improving conditions in the oil and gas industry and increased government infrastructure spending.
  • Employment Services -- The improved pace of job creation in Canada in the past year translates to healthy growth in the employment services industry
  • Accounting – Demand for accounting services has been sluggish over the past two years, but is expected to be better in 2017 and beyond as underlying business trends improve. The trend toward do-it-yourself accounting software packages is a threat.
  • Advertising —Technology has allowed for more targeted online advertising, which is also increasing the attractiveness of industry services
  • Consulting – Consisting of activities such as management, scientific, and environmental consulting; these segments of the industry have experienced strong growth overall since the financial crisis due to steady outsourcing by businesses.

About Michael

As Director, Industrial Economic Trends, Michael Burt oversees regular forecasts for more than 30 different sectors of the Canadian economy, including an annual Industrial Profile for Canada's Retail Trade Industry. Michael joined The Conference Board of Canada in 2004. In addition to contributing to the development of the Industrial Outlook forecast model, Michael has introduced new industry-specific products and conducted commissioned analysis. Michael has a Master's degree in Economics from the University of Toronto, and has also completed the Chartered Financial Analyst program.

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