Business Outlook Survey—Second Quarter of 2024 https://www.bankofcanada.ca/?p=239538 Balance of opinion (%) Yes—severe recession Yes—mild recession 2021Q4 2022Q1 2022Q2 2022Q4 2023Q1 2023Q2 2023Q3 2023Q4 2024Q1 2024Q2 Balance of Opinion Future Sales Growth - Over the next 12 months, the rate of increase in your firm’s sales volume (compared with the past 12 months) is expected to be… Greater (%) Future Sales Growth - Over the next 12 months, the rate of increase in your firm’s sales volume (compared with the past 12 months) is expected to be… Less (%) Future Sales Growth - Over the next 12 months, the rate of increase in your firm’s sales volume (compared with the past 12 months) is expected to be… Balance of Opinion Indicators of Future Sales - Compared with 12 months ago, have your recent indicators (order books, advanced bookings, sales inquiries, etc.)… Improved (%) Indicators of Future Sales - Compared with 12 months ago, have your recent indicators (order books, advanced bookings, sales inquiries, etc.)… Deteriorated (%) Indicators of Future Sales - Compared with 12 months ago, have your recent indicators (order books, advanced bookings, sales inquiries, etc.)… Firms tied to essential spending (balance of opinion,* four-quarter moving average) Firms tied to discretionary spending (balance of opinion,* four-quarter moving average) Historical average balance of opinion of all firms, sales indicators Historical average share of firms citing either some or significant difficulty Significant difficulty, currently operating beyond capacity (share of firms) Some difficulty, currently operating at or near capacity (share of firms) Investment spending, change over the next 12 months (balance of opinion*) Historical average balance of opinion, investment spending Number of employees, change over the next 12 months (balance of opinion†) Historical average balance of opinion, number of employees Labour shortages (share of firms) Historical average share of firms facing labour shortages Intensity of labour shortages, change compared with 12 months ago (balance of opinion*) Historical average balance of opinion, intensity of labour shortages Wage growth, change over the next 12 months (balance of opinion,* left scale) Historical average balance of opinion, wage growth (left scale) Expected wage increase, change over the next 12 months (year-over-year percentage change, right scale) Historical average percentage change in expected wage increase (right scale) Input price growth, change over the next 12 months (balance of opinion*) Selling price growth, change over the next 12 months (balance of opinion*) Past 12 months Next 12 months BLP, 1-year-ahead BLP, 2-year-ahead BLP, 5-year-ahead BOS, over the next 2 years 492425 433014 41356 581643 512131 2935-6 36297 36342 4142-1 34305 3137-6 3639-3 572729 491931 443311 452817 472720 432914 482622552234 542232581245 462818522131 462124561740 482622542034 42348551540 44242057948 452520572433 392514481632 412516591544 36333541539 422616511933 34313551639 34277492029 412714452322 402812472225 35323481929 3838033303 3638-2382711 3733437325 3734343349 2357-341857-38 3053-221568-53 6123392748-21 6916533645-9 712150512724 642044551936 532925671750 542629661948 512922542232 503813641548 492920591842 39336492326 3741-4462124 58233567760 473215562134 35350462620 442816472424 502624442618 42339452322 522231502328 512229452025 502427521933 502624581939 562035601644 43358452520 40364413110 40328492227 463016462917 47311645378 483216463115 4338541374 423012462521 482226542332 5231216115464510293516383419291813.0011.002.603.20 501931678594583829165834252931822.0011.003.003.20 422319658574593817163434252938820.0011.003.003.20 3931851183445124429164034302935825.0011.003.403.20 43271655154145123524164534262935825.0011.003.403.20 3731662144945174017165134342936818.0011.003.803.20 4126155514404584833163934372950818.0011.003.203.20 3637-149222745174025164134372943823.0011.003.903.20 403463925142-645102120163534192916815.0011.003.003.20 442123411823-67458342016363426291387.0011.003.203.20 492524392216-7545133828163134342922813.0011.003.003.20 43321151173413-445104311164334312925811.0011.003.203.20 4927224125166-64583812162834282918810.0011.002.803.20 2863-351573-58-4-2045225-301623341329-418-35.0011.001.503.20 6324393153-229045103421626342529-198-21.0011.002.203.20 681949414012415451443261643343329-480.0011.003.303.20 6816526219424645451432401645342229-1820.0011.002.603.20 2.3 66194781081202645204136166534232930843.0011.004.003.20 2.8 443597014568845263946166734362964850.0011.004.403.20 3.0 4037372126171645285047167734412974872.0011.004.803.20 4.43.32.6 4.43.22.73.8 3950-11581840162645305142166334402962868.0011.005.203.20 4.73.42.8 3.8 2954-2668115712225.43.62.645215837166634422966861.0011.005.803.20 5.13.32.6 5.53.42.54.860 2846-18483118-39-245.63.52.65445284829164734462944838.0011.004.903.20 5.63.42.652 5.03.12.54.254 2851-24443311-39-104.83.02.53945185120163534382925831.0011.004.703.20 4.73.12.334 4.73.12.54.036 3048-18423210-49-264.32.92.43814410742545851191645343129-30822.0011.004.703.20 4.63.22.733 4.12.92.63.934 3541-644368-53-333.82.72.73252995125451136141634343029-238-19.0011.004.503.20 3.93.02.629 3.82.82.53.527 42281437370-63-433.52.82.7263311519254573971627343229-468-50.0011.004.303.20 3.82.82.525 3.42.72.53.322 5030203343-10-57-213.72.62.41863120025451530221621342729-448-22.0011.004.103.20 3.52.82.611 3.42.72.53.29 3332138344-48-183.22.72.413324331254564701632342229-398-18.0011.004.103.20 3.02.62.619 3.12.52.43.019 424113637-1-32-233.32.62.51831725-1025451034111626341529-548-46.0011.003.403.20 3.32.72.617 2.92.52.53.021 11393940413940525654 56606157595345495252 13141212141721182742 19231832293341444940 591021191824262823 64524844433735332722 50444328252018131113 4027 3217 3421 1715 1310 1311