Business Outlook Survey—Fourth Quarter of 2024 https://www.bankofcanada.ca/?p=243736 Balance of opinion (%) Business activity Prices and costs Capacity BOS indicator Expected to be lower (share of all firms) Expected to be higher (share of all firms) Balance of opinion* 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.)… Investment spending, change over the next 12 months (balance of opinion*) Historical average balance of opinion, investment spending Some or significant difficulty meeting an unexpected increase in demand (share of firms) Historical average share of firms citing either some or significant difficulty Labour shortages (share of firms) Historical average share of firms facing labour shortages Significantly higher (left scale) Somewhat higher (left scale) Significantly lower (left scale) Somewhat lower (left scale) Balance of opinion* (right scale) Wage growth, change over the next 12 months (balance of opinion,* left scale) Input price growth, change over the next 12 months (balance of opinion,† left scale) Average expected wage increase, change over the next 12 months (year-over-year percentage change, right scale) Selling price growth, change over the next 12 months (balance of opinion*) BLP, 1-year-ahead BLP, 2-year-ahead BLP, 5-year-ahead BOS, over the next 2 years Below 1 per cent (% of firms) Inflation Expectations - Over the next two years, what do you expect the annual rate of inflation to be, based on the consumer price index? 1 to 2 per cent (% of firms) Inflation Expectations - Over the next two years, what do you expect the annual rate of inflation to be, based on the consumer price index? 2 to 3 per cent (% of firms) Inflation Expectations - Over the next two years, what do you expect the annual rate of inflation to be, based on the consumer price index? Above 3 per cent (% of firms) Inflation Expectations - Over the next two years, what do you expect the annual rate of inflation to be, based on the consumer price index? No response (% of firms) Inflation Expectations - Over the next two years, what do you expect the annual rate of inflation to be, based on the consumer price index? Capital expenditures Production 492425 433014 41356 581643 512131 2935-6 36297 36342 4142-1 343050256286 3137-61345528 3639-35593123 5727292623321 4919312286045 4433111326151 4528170276391 47272011557261 4329140395551 4826220435245522341 5422321405435812452 4628180454755221313 46212402155175617406 4826220335495420344 4234802956125515403 442420033604579483 4525201186875724336 39251401060274816323 41251601461195915446 3633321563185415392 42261601561225119332 3431301563205516392 3427712660114920292 41271412860104523221 40281211469144722252 3532301668124819295 383800305612333032 3638-202852173827113 373340135036373252 373431184832433491 2357-3430432231857-382 3053-2241371541568-534 61233911493542748-212 69165364934113645-90 7121509612075127243 6420440544065519360 5329252504536717500 5426297533256619483 5129222474435422324 50381322158156415484 49292011862185918421 393360414774923265 3741-43415144621241 582335028635677604 4732150445325621341 353502524314626202 4428160544224724242 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