The Bank of Canada releasing their latest Business Outlook Survey today and with it a simple truth that a low hurdle is that much easier to clear.
With essentially nil sales growth in 2016, anything positive would be an improvement and that’s what we get with 48 per cent of Canadian businesses surveyed expecting business to pick-up in 2017 vs. 22 per cent expecting a slowdown.
Where perhaps some further optimism can be found is in the fact that businesses surveyed plan on spending again.
The last two years, one of the more bearish GDP indicators was that Canadian firms simply weren’t investing in new equipment and machinery and that too expected to pick up.
Finally, the Canadian dollar, a factor in a lending way to where a little traction can be gained as the benefits of working with weaker loonie, continue to add momentum to our exporters.