Bank of Canada’s Business Outlook Survey Show Recovery Signs

A recent survey by the Bank of Canada (BoC) showed on Monday that business sentiment in Canada improved with the economy showing signs of recovery from the negative impacts caused by the Coronavirus pandemic.

Roughly two thirds of Canadian businesses reported their sales returning to their levels prior to the pandemic or higher, Business Outlook Survey (BOS).

Meanwhile, about 20% of companies, most of which are in services that require human contact such as tourism, do not foresee a recovery in sales during the next 12 months.

It is worth noting that the survey was conducted between mid-February and early March, prior to the introduction of new lockdown measures in Canada during April.