Economy Optimism Plummets

Optimism around Canada’s economy dipped steeply in the last quarter, says a survey of senior business leaders by the Chartered Professional Accountants of Canada (CPA Canada). Optimism about the national economy over the next 12 months sank from 40 per cent in the first quarter to 16 per cent in quarter two, with pessimism expressed by 53 per cent of respondents. Inflation is the top challenge respondents point to in terms of growth for the economy, being cited by 29 per cent, with supply chain issues behind it at 14 per cent. Seventy-two per cent of business leaders indicated they think improving business processes is extremely important, followed by improving technical skills of employees (59 per cent), and integrating existing technologies (56 per cent).