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 Chartered Professional Accountants and Chartered 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 Q3 2013 Backgrounder include:
- Optimism about the Canadian economy is up sharply among executive professional accountants climbing to its highest level since the second quarter of 2011, according to the latest CPA Canada Business Monitor (Q3 2013)
- Thirty-seven per cent of the respondents surveyed are optimistic about how the national economy will perform over the next 12 months. In both the first and second quarters of this year, only 26 per cent were optimistic. Fifty-six per cent of those surveyed in the third quarter of 2013 are neutral and just under 10 per cent are pessimistic.
- While there have been wide spread fluctuations since the quarterly surveys began, economic optimism is now at its highest level since Q2 2011 when 43 per cent of the respondents felt good about the prospects for the Canadian economy. The highest level of optimism for the on-going research is 67 per cent, recorded in the second and third quarters of 2007.
“The increase in economic optimism is certainly positive but it must be put into perspective,” says Kevin Dancey, FCPA, FCA, president and CEO, Chartered Professional Accountants of Canada (CPA Canada). “While very few of the respondents are pessimistic, the majority are still not prepared to express optimism. Hopefully, further upswings in optimism lie ahead.”
The state of the U.S. economy is viewed as the biggest challenge to economic growth by survey respondents (43 per cent) followed by uncertainty surrounding the Canadian economy (18 per cent).
- Company optimism is up slightly from last quarter. Fifty per cent are optimistic about how their company will perform over the next 12 months compared with 47 per cent the previous quarter.
No significant changes are emerging in projections for revenues and profits with the majority of respondents still anticipating increases. Sixty-four per cent of respondents expect their revenues to grow in the next year and 59 per cent are forecasting an increase in profits.
CPA Canada Business Monitor is brought to you by CPA Canada.
Get your copy of CPA Canada Business Monitor results
- 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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