Canadian companies to boost production, hiring in 2010

Canadian firms are cautiously optimistic that the new year will bring better prospects than the bleak one just drawing to a close, but their brighter outlook is tempered by the expectation of additional challenges, a new business survey suggests

Canadian firms are cautiously optimistic that the new year will bring better prospects than the bleak one just drawing to a close, but their brighter outlook is tempered by the expectation of additional challenges, a new business survey suggests.

The Canadian Manufacturers and Exporters end-of-year survey of 688 firms found CEOs seeing a light at the end of the dark tunnel that was 2009, but also struggling to adapt to the post-recession economy.

“The lesson of 2009 is that business as usual is not an option,” said CME president Jayson Myers.

“We have to hit the reset button and now we have to define the new normal.”

The new normal includes a loonie that could reach and perhaps surpass parity, coupled with the need to expand to new foreign markets and improve productivity.

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