BMO Study: 44 per cent of Canadians believe businesses in their community will grow this year
- Only 8 per cent believe that local businesses in their community will shrink - Manitoba, Saskatchewan, Alberta and B.C. show highest levels of optimism - Optimism mirrors different levels of growth across the country, says BMO Economics
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 07/31/11 -- A national study released by BMO Bank of Montreal today reveals that 44 per cent of Canadians surveyed are optimistic that businesses in their own community will experience growth this year, while only 8 per cent see local business activity shrinking.
"These survey numbers show that Canadians are cautiously optimistic about the economy and the growth prospects for businesses in their home communities," said Cathy Pin, Vice President, Commercial Banking, BMO Bank of Montreal. "In this current economic environment, we encourage businesses to take advantage of the opportunity to make strategic spending and investment decisions - such as upgrading equipment, training and processes - in order to improve productivity and better position themselves for a future strengthening in consumer confidence," added Pin.
The survey, conducted by Leger Marketing, shows higher levels of optimism about local business growth in Western Canada (Manitoba/Saskatchewan at 55 per cent, Alberta at 53 per cent, and British Columbia at 49 per cent) compared to Quebec at 37 per cent.
"The differences in optimism reflected in the survey mirror the different levels of economic growth across the country," said Robert Kavcic, Economist, BMO Capital Markets. "Optimism is highest where we project the strongest growth, such as in Saskatchewan and Alberta, with lower levels reflecting below-average economic growth in Ontario and Quebec."
According to BMO Economics, the Canadian economy has shifted from the recovery phase to a more mature expansion, with real GDP now expected to grow a moderate 2.8 per cent in 2011, before easing to 2.6 per cent in 2012. At the regional level there is a clear divide between the commodity-producing provinces and non-commodity provinces, with Western Canada and Newfoundland & Labrador expected to grow 3 per cent to 4 per cent this year, Central Canada growing slightly below 3 per cent and Atlantic Canada at around a 2 per cent pace.
Below is the BMO Economics forecast, followed by key survey findings, for each region, from the Leger survey:
British Columbia
Alberta
Manitoba/Saskatchewan
Ontario
Quebec
Atlantic Provinces
The online survey was conducted by Leger Marketing between May 30 - June 1, 2011, using a sample of 1504 Canadians, 18 years of age or older. A probability sample of the same size would yield a margin of error of +/-2.5 per cent, 19 times out of 20.
Contacts:
Media Contacts:
Paul Cunliffe, Toronto
416-867-3996
Sarah Bensadoun, Montreal
514-877-8224
Laurie Grant, Vancouver
604-665-7596
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Datum: 31.07.2011 - 06:30 Uhr
Sprache: Deutsch
News-ID 1026027
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