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With the mishmash of economic and business signals swirling in global markets these days it’s hard to put your finger on how business owners in this province are positioning themselves.
We have a few reports on business confidence – they are all generally negative even in the face of some improving economic news. We saw interest rates in the US fall this week, for example.
But the latest report from the Federation of Independent Business has confidence levels among business owners declining in the last month. Similarly, a survey of CEOs conducted by TEC Canada says confidence levels are lower than those touted by the Bank of Canada.
Few expect they will be able to raise prices in the face of market headwinds, especially in light of trade challenges with major markets such as China. But, they do plan to maintain their hiring plans with roughly six-of-ten employers saying they plan to expand their payrolls in the coming year even though they expect the economy will not improve. Nonetheless, none are expecting a recession, a position supported by the latest GDP numbers which show Canada remained in a growth mode in May.
