A new Bank of Canada survey reveals that more companies expect to benefit from the strong post-election growth they expect in the United States.
The most recent "Business Outlook Survey" of the central bank, however, indicates that when it comes to exports, several companies are concerned about the uncertainty surrounding the possibility of a protectionist rise in the United States.
The survey says that due to this uncertainty, few companies have considered the potential impacts of the results of the US election on their sales prospects.
Still, companies surveyed between mid-November and early December were optimistic about some of the decisions the new Trump administration could take, including changes in energy policies, as well as increases in military and infrastructure spending .
Overall, businesses expect sales growth to grow faster over the next 12 months, driven by continued strength in the service sector, housing market activity and tourism.
The survey also reveals an upturn in investment intentions over the next year, primarily in central and eastern Canada, as well as improved hiring intentions in most sectors and regions.
