Index of Business Confidence

Another Quarter, Another Drop in Business Confidence

The last time the index experienced six consecutive declines was fifteen years ago, during the 2007–08 financial crisis. Our latest survey indicates that firms are still concerned about the next six months when it comes to rising costs, labour shortages, government policies, taxes, weak market demand, and most prominently, high interest rates.

March 15, 2023   •   8-min read

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2.0 points to 75.7

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Our widely respected Index of Business Confidence captures the views of senior executives of private Canadian corporations. It delves into the state of their businesses’ sales and finances, their investment plans, and their expectations for the Canadian economy over the coming six months.

This quarterly index is used by the Bank of Canada as a measure of capacity and inflation pressure as it sets monetary and financial markets policy. The index also informs our in-house national economic outlook.

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