CPA Canada Business Monitor
The Chartered Professional Accountants of Canada (CPA Canada) is proud to present the CPA Canada Business Monitor. This report draws on the strategic thinking and business insight of professional accountants holding key leadership positions in a wide range of Canadian organizations to provide a view of business trends and economic optimism across Canada.
Key findings from Q4 2013 Backgrounder include:
- There is a sharp jump in the number of executive professional accountants anticipating a climb in employee numbers at their companies over the next 12 months, according to the latest CPA Canada Business Monitor (Q4 2013).
- Forty-four per cent forecast a growth in employee numbers in the year ahead compared with 34 per cent the previous quarter. Thirty-nine per cent of the respondents predict no change and 17 per cent expect a drop. Despite the positive employment forecast, the majority of executive professional accountants (60 per cent) are neutral about the prospects for the Canadian economy over the next 12 months. Thirty-four per cent are optimistic while just six per cent are pessimistic.
- The state of the U.S. economy is viewed as the biggest challenge to the Canadian economy, referenced by 38 per cent of respondents. Uncertainty surrounding the Canadian economy is the next closest at 14 per cent.
“The majority of executives surveyed are not prepared to give a thumbs up just yet for the Canadian economy, despite some very encouraging employment prospects,” says Kevin Dancey, FCPA, FCA, president and CEO, Chartered Professional Accountants of Canada (CPA Canada). “The survey findings reinforce the lingering uncertainty that exists.”
- In terms of company optimism, 57 per cent are optimistic about how their company will perform over the next 12 months compared with 50 per cent the previous quarter. There also are positive projections for revenues and profits. Sixty-nine per cent of respondents expect their revenues to grow in the next year and 68 per cent are forecasting an increase in profits.
- Almost two-thirds (61 per cent) of the executive professional accountants surveyed believe the current level of personal debt among Canadians is hurting the economy. In addition, 53 per cent of those surveyed felt that Canadian personal debt levels are a threat to future demand for products or services at their company.
- About two-in-three respondents (65%) believe that the Bank of Canada will likely leave its overnight rate unchanged for the duration of 2014. Virtually all other respondents predict the Bank will increase the overnight rate in the year ahead. It also appears that executive professional accountants are growing increasingly comfortable with Stephen Poloz in his role as Bank of Canada governor. A strong majority (71 per cent) stated they were more comfortable while 29 per cent were less comfortable.
CPA Canada Business Monitor is brought to you by CPA Canada.
Get your copy of CPA Canada Business Monitor results
- Q4 2013 Backgrounder CPA Canada Business Monitor
- Q3 2013 Backgrounder CPA Canada Business Monitor
- Q2 2013 Backgrounder CPA Canada Business Monitor (June 7)
- Q2 2013 Backgrounder CPA Canada Business Monitor
- Q1 2013 Backgrounder CICA Business Monitor (March 26)
- Q1 2013 Backgrounder CICA Business Monitor
- Business Monitor reports archives
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