OTTAWA, Oct 19 (Reuters) – Enterprise sentiment in Canada has improved as COVID-19 restrictions have eased, although it stays “detrimental” with one-third of companies saying they don’t count on gross sales to return to pre-pandemic ranges throughout the subsequent 12 months, a Financial institution of Canada survey confirmed on Monday.
The Financial institution of Canada’s enterprise outlook indicator improved barely from the second quarter, however remained effectively under its historic common, signaling weak enterprise sentiment.
“After many containment measures had been lifted and enterprise exercise resumed over the summer time months, companies now count on gross sales to extend from low ranges,” the Financial institution mentioned.
Nonetheless, “companies reported that their gross sales prospects are restricted by weak demand and precautionary well being pointers, and that their funding and hiring plans stay modest as a consequence of elevated uncertainty.”
The survey of 100 companies occurred between August 24 and September 16, when COVID-19 circumstances had been nonetheless decrease in Canada. A second wave of recent infections has led to focused restrictions in sure sizzling spots.
((Reporting by Julie Gordon; enhancing by Steve Scherer; email@example.com;1-343-961-4020))
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