The Bank of Canada has released its business outlook survey for the summer, 2020. The survey reinforces the negative sentiment that is being felt more broadly across the business communities – weaker demand, supply chain pressures, credit restrictions and low expectations for price growth.
The survey was conducted May/June, so this negative outlook is expected. The index fell below historic averages with accelerated weakness in demand (both domestic and international). The good news is that businesses do expect a recovery and rebound next year.
For exporters, credit conditions have significantly tightened, and the hope is that the government support measures will offset some of this. If you are an exporter and would like to learn more about this, contact firstname.lastname@example.org