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Canadian Business Remains Optimistic Despite Global Economic Uncertainty

Stocks in this article: UPS

Canada remains steadfast in its optimism despite less than rosy fiscal forecast

  • Three in five businesses expect to see an increase in revenue in 2013
  • 57 per cent expect at least moderate growth in Canada's economy
  • Economic confidence has increased 20 per cent (to 63 per cent) since Q1 2012
  • Booming Western provinces are more positive about Canada's economy than others, with the majority (58 per cent vs. 46 per cent) expressing a favourable opinion of Canada's economic prospects

MISSISSAUGA, ON, Feb. 19, 2013 /CNW/ - As policy makers south of the 49th parallel toiled to manage spending at the close of 2012, Canadian business leaders seem to have adopted a surprisingly bullish stance regarding their economic prospects for 2013.

According to a quarterly survey of Canadian businesses commissioned by UPS Canada and conducted by Leger Marketing, three in five business leaders believe that they will see more revenue in 2013 than they did in 2012. The majority of business leaders (57 per cent) expect at least moderate growth in Canada's economy in the coming year.

"Canadian businesses have certainly been keeping a close eye on the pulse of the economy south of the border and globally.  Yet, despite significant uncertainty, it is reassuring to see such a groundswell of optimism in Canadian business circles as we move into 2013," said UPS Canada vice- president, Nicolas Dorget.

According to the survey, economic confidence increased substantially since Q1 2012 when only 45 per cent of businesses felt they would see growth over the next quarter compared to 63 per cent at the end of 2012. Confidence has also increased since Q3 when 54 per cent of businesses predicted growth.

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