Canada firms wary but see higher sales growth, investment, jobs

Mon Jul 8, 2013 10:29am EDT
 
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OTTAWA, July 8 (Reuters) - Canadian businesses remain wary of the coming 12 months despite slowly improving U.S. demand, but still expect an improvement in sales growth as well as higher investment and employment, a Bank of Canada poll showed on Monday.

The survey of senior managers, taken from May 21 to June 13, showed the balance of opinion on past sales had turned modestly positive and the future sales outlook was also somewhat positive, though slightly less so than three months earlier.

"Nonetheless, expectations regarding the economic outlook remain muted. Firms continue to express concerns about the prospects for domestic demand," the central bank said.

"While many firms note that gradually improving U.S. demand bodes well for their sales outlook, they generally expect U.S. growth to be slow over the next 12 months and competitive conditions in the U.S. market to remain intense."