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Majority of businesses optimistic about the next year

Optimism outweighs pessimism among Alberta businesses in latest Statistics Canada sentiment survey

By Rob Roach, ATB Economics 28 November 2023 1 min read

According to the latest Canadian Survey on Business Conditions, just under two-thirds (65.1%) of Alberta businesses say they are either very optimistic (21.0%) or somewhat optimistic (44.1%) as they look out over the next 12 months.

On the other end of the continuum, 21.5% are pessimistic (4.0% very and 17.5% somewhat) about the next 12 months with about 13.3% not sure.

This is a little better than where things stood at the end of 2022 when 61.1% were in the optimistic camp, but a little worse than earlier this year(Q2) when 72.5% said they were optimistic.

Turning to the obstacles businesses expect to face over the next three months, the issue cited by the largest number of Alberta businesses was rising inflation with 62.3% expecting this to be a problem. This was followed by the rising cost of inputs (48.4%), and rising interest rates and debt costs (43.8%).

While optimism outweighs pessimism over the next 12 months, a large portion of businesses in both Alberta and Canada as a whole are clearly concerned about inflation and interest rates over the short-term.

*The Canadian Survey on Business Conditions was conducted by Statistics Canada was conducted from October 3 to November 6, 2023. Respondents were asked what their expectations would be over the next three-month period. As a result, those three months could range from October 3, 2023, to February 6, 2024, depending on when the business responded.

Answer to the previous trivia question: The fermented fish sauce as a condiment by the ancient Romans is called garum.

Today’s trivia question: According to Google Maps, does it take longer to drive from Calgary to Vancouver or Calgary to Fort McMurray?

Rising inflation was cited by 62.3% of Alberta businesses as an obstacle they are facing over the next three months

Rising inflation was cited by 62.3% of Alberta businesses as an obstacle they are facing over the next three months


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