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[Report] Canadian Survey on Business Conditions, second quarter 2024

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Released: 2024-05-27

Real gross domestic product (GDP) rose 0.8% on a year-over-year basis in February. Consumer inflation has remained below the 3% mark in 2024, slowing to 2.7% on a year-over-year basis in April. Meanwhile, the unemployment rate was unchanged at 6.1% and up 1.0% year over year.

In this macroeconomic context, Statistics Canada conducted the Canadian Survey on Business Conditions from April to early May 2024. The survey collects information on the environment businesses are currently operating in and their expectations moving forward.

Businesses continue to expect to face a variety of obstacles (see Note to readers): primarily cost-related obstacles, such as rising inflation and rising costs of inputs, and labour-related obstacles, such as recruiting and retaining skilled employees and labour shortage. The pressures of labour-related obstacles on businesses have risen in the second quarter from the first quarter, while cost-related obstacles have continued to ease in recent quarters. Meanwhile, the outlook of businesses has gradually improved since the fourth quarter of 2023.

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  • By

    Statistics Canada

  • Published

    Jun 11, 2024

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