Business Update – October 17, 2024
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Bank of Canada survey shows business, consumer sentiment remains low
The Bank of Canada says business and consumer sentiment remained low during the third quarter of this year, citing high interest rates and higher costs as the main reasons.
Economists predict inflation dipped below 2% in September
Economists expect inflation continued its downward trend last month, giving the Bank of Canada the all-clear to continue cutting its benchmark interest rate.
Canadian economic activity rebounded in September as pace of price increases cooled
Canadian economic activity rebounded in September after contracting in the prior month as the pace of price increases cooled to its slowest in six months, Ivey Purchasing Managers Index (PMI) data showed on Friday.
Canadian CEOs are more optimistic than global peers, but why?
There is high optimism among Canadian business leaders when it comes to their company’s outlook and the prospective growth of the Canadian economy as a whole, according to a recent report.
Cyber threats dominate concerns for Canadian businesses
The Travelers Companies has released its 2024 Travelers Canada Risk Index, revealing that cyber threats remain the top concern for Canadian business leaders for the second consecutive year.
Homeowners’ credit resilience ‘surprised’ Canada Bank regulator
Canadian homeowners have weathered the current credit cycle much better than the country’s bank regulator expected a year ago. “Households have managed through this quite well,” Superintendent of Financial Institutions Peter Routledge said Wednesday. “There is no evidence to suggest credit’s going to really deteriorate in a material way that might affect the broader economy or might affect the housing market.”
Canadian businesses are in debt distress with many facing delinquency
The scene isn’t pretty for Canadian businesses and their capacity to contend with their debts. New data reveal a rising delinquency rate as more businesses miss credit payments, and the stress is quite profound in key sectors like construction, retail and transportation.
Canada’s services PMI hits six-month low in September
The downturn in Canada’s services economy deepened in September as firms shed jobs and new business dropped to a near four-year low, S&P Global Canada services PMI data showed on Thursday.
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