Firms gaining confidence

OTTAWA — A new survey suggests Canadian firms are gaining in confidence about the economy and prospects for profits and new hiring

OTTAWA — A new survey suggests Canadian firms are gaining in confidence about the economy and prospects for profits and new hiring. The latest business monitor from the Canadian Institute of Chartered Accountants and RBC shows optimism about the economy climbed sharply in the first quarter of this year.

About 32 per cent of respondents expressed confidence the economy would improve in the next 12 months, compared to only 20 per cent three months earlier.

The majority — 58 per cent — were neutral. The survey also found that 65 per cent of respondents believed their companies’ profits would rise, and 44 per cent expect their firms will add employees, both numbers higher than three months ago.

The results come at a time of improving economic data, including in the critical United States market.

The survey conducted by Decima Research is considered accurate within plus or minus 5.5 percentage points, 19 times out of 20.

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