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Business sentiment in Canada improved during the third quarter (Q3) of 2020, as lockdown measures and preventive measurements against the Coronavirus (COVID-19) pandemic were eased, according to data by the Bank of Canada (BoC).
The BoC business outlook indicator slightly rose compared with Q2, but remained below its average, remaining negative.
About 33% of surveyed companies do not expect sales to return to their levels prior to the COVID-19 crisis within the next 12 months.
“After many containment measures were lifted and business activity resumed over the summer months, firms now expect sales to increase from low levels.”
“Firms reported that their sales prospects are limited by weak demand and precautionary health guidelines and that their investment and hiring plans remain modest due to elevated uncertainty.”
