<?xml version="1.0" encoding="UTF-8"?>
<data>
<terms url="https://www.bankofcanada.ca/terms/"></terms>
<groupDetail>
    <label>Chart 7: Firms with weak sales outlooks are planning for lower investment</label>
    <description><![CDATA[Investment spending: Over the next 12 months, is your firm's investment spending on machinery and equipment expected to be higher, lower or the same as over the past 12 months? Indicators of future sales: Compared with 12 months ago, have your recent indicators of future sales (order books, advance bookings, sales inquiries, etc.) improved, deteriorated or remained the same?

*Contributing share to the balance of opinion on investment spending
†Percentage of firms expecting higher investment spending minus the percentage expecting lower investment spending
Note: Because non-responses are excluded from the contribution bars but included in the all-firm balance of opinion, the two measures may not align exactly for every quarter.]]></description>
    <link>https://www.bankofcanada.ca/?p=248864</link>
</groupDetail>
<seriesDetail>
<series id="BOS_2025Q3_C7_S1">
<label>Indicators of future sales have improved*</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
<series id="BOS_2025Q3_C7_S2">
<label>Indicators of future sales have remained the same*</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
<series id="BOS_2025Q3_C7_S3">
<label>Indicators of future sales have deteriorated*</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
<series id="BOS_2025Q3_C7_S4">
<label>Investment spending, change over the next 12 months (balance of opinion†)</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
</seriesDetail>
<observations>
<o d="2019-01-01"><v s="BOS_2025Q3_C7_S1">10.00</v><v s="BOS_2025Q3_C7_S2">10.00</v><v s="BOS_2025Q3_C7_S3">-1.00</v><v s="BOS_2025Q3_C7_S4">20.00</v></o>
<o d="2019-04-01"><v s="BOS_2025Q3_C7_S1">13.00</v><v s="BOS_2025Q3_C7_S2">6.00</v><v s="BOS_2025Q3_C7_S3">1.00</v><v s="BOS_2025Q3_C7_S4">20.00</v></o>
<o d="2019-07-01"><v s="BOS_2025Q3_C7_S1">7.90</v><v s="BOS_2025Q3_C7_S2">10.90</v><v s="BOS_2025Q3_C7_S3">6.90</v><v s="BOS_2025Q3_C7_S4">27.70</v></o>
<o d="2019-10-01"><v s="BOS_2025Q3_C7_S1">10.90</v><v s="BOS_2025Q3_C7_S2">4.00</v><v s="BOS_2025Q3_C7_S3">-3.00</v><v s="BOS_2025Q3_C7_S4">10.90</v></o>
<o d="2020-01-01"><v s="BOS_2025Q3_C7_S1">11.90</v><v s="BOS_2025Q3_C7_S2">6.90</v><v s="BOS_2025Q3_C7_S3">-5.90</v><v s="BOS_2025Q3_C7_S4">11.90</v></o>
<o d="2020-04-01"><v s="BOS_2025Q3_C7_S1">1.00</v><v s="BOS_2025Q3_C7_S2">-2.00</v><v s="BOS_2025Q3_C7_S3">-25.00</v><v s="BOS_2025Q3_C7_S4">-30.00</v></o>
<o d="2020-07-01"><v s="BOS_2025Q3_C7_S1">9.90</v><v s="BOS_2025Q3_C7_S2">5.00</v><v s="BOS_2025Q3_C7_S3">-12.90</v><v s="BOS_2025Q3_C7_S4">2.00</v></o>
<o d="2020-10-01"><v s="BOS_2025Q3_C7_S1">18.00</v><v s="BOS_2025Q3_C7_S2">4.00</v><v s="BOS_2025Q3_C7_S3">5.00</v><v s="BOS_2025Q3_C7_S4">26.00</v></o>
<o d="2021-01-01"><v s="BOS_2025Q3_C7_S1">31.70</v><v s="BOS_2025Q3_C7_S2">5.00</v><v s="BOS_2025Q3_C7_S3">4.00</v><v s="BOS_2025Q3_C7_S4">39.60</v></o>
<o d="2021-04-01"><v s="BOS_2025Q3_C7_S1">33.00</v><v s="BOS_2025Q3_C7_S2">4.00</v><v s="BOS_2025Q3_C7_S3">0.00</v><v s="BOS_2025Q3_C7_S4">36.00</v></o>
<o d="2021-07-01"><v s="BOS_2025Q3_C7_S1">36.60</v><v s="BOS_2025Q3_C7_S2">4.00</v><v s="BOS_2025Q3_C7_S3">4.00</v><v s="BOS_2025Q3_C7_S4">45.50</v></o>
<o d="2021-10-01"><v s="BOS_2025Q3_C7_S1">34.00</v><v s="BOS_2025Q3_C7_S2">7.00</v><v s="BOS_2025Q3_C7_S3">4.00</v><v s="BOS_2025Q3_C7_S4">47.00</v></o>
<o d="2022-01-01"><v s="BOS_2025Q3_C7_S1">27.70</v><v s="BOS_2025Q3_C7_S2">11.90</v><v s="BOS_2025Q3_C7_S3">2.00</v><v s="BOS_2025Q3_C7_S4">41.60</v></o>
<o d="2022-04-01"><v s="BOS_2025Q3_C7_S1">32.70</v><v s="BOS_2025Q3_C7_S2">2.00</v><v s="BOS_2025Q3_C7_S3">1.00</v><v s="BOS_2025Q3_C7_S4">36.60</v></o>
<o d="2022-07-01"><v s="BOS_2025Q3_C7_S1">17.00</v><v s="BOS_2025Q3_C7_S2">8.00</v><v s="BOS_2025Q3_C7_S3">3.00</v><v s="BOS_2025Q3_C7_S4">29.00</v></o>
<o d="2022-10-01"><v s="BOS_2025Q3_C7_S1">14.90</v><v s="BOS_2025Q3_C7_S2">6.90</v><v s="BOS_2025Q3_C7_S3">-5.00</v><v s="BOS_2025Q3_C7_S4">19.80</v></o>
<o d="2023-01-01"><v s="BOS_2025Q3_C7_S1">21.00</v><v s="BOS_2025Q3_C7_S2">-1.00</v><v s="BOS_2025Q3_C7_S3">-1.00</v><v s="BOS_2025Q3_C7_S4">19.00</v></o>
<o d="2023-04-01"><v s="BOS_2025Q3_C7_S1">6.90</v><v s="BOS_2025Q3_C7_S2">2.00</v><v s="BOS_2025Q3_C7_S3">4.90</v><v s="BOS_2025Q3_C7_S4">13.70</v></o>
<o d="2023-07-01"><v s="BOS_2025Q3_C7_S1">11.90</v><v s="BOS_2025Q3_C7_S2">-1.00</v><v s="BOS_2025Q3_C7_S3">-5.00</v><v s="BOS_2025Q3_C7_S4">6.90</v></o>
<o d="2023-10-01"><v s="BOS_2025Q3_C7_S1">9.10</v><v s="BOS_2025Q3_C7_S2">8.10</v><v s="BOS_2025Q3_C7_S3">5.10</v><v s="BOS_2025Q3_C7_S4">22.20</v></o>
<o d="2024-01-01"><v s="BOS_2025Q3_C7_S1">4.00</v><v s="BOS_2025Q3_C7_S2">0.00</v><v s="BOS_2025Q3_C7_S3">-2.00</v><v s="BOS_2025Q3_C7_S4">0.00</v></o>
<o d="2024-04-01"><v s="BOS_2025Q3_C7_S1">2.00</v><v s="BOS_2025Q3_C7_S2">8.90</v><v s="BOS_2025Q3_C7_S3">-1.00</v><v s="BOS_2025Q3_C7_S4">10.90</v></o>
<o d="2024-07-01"><v s="BOS_2025Q3_C7_S1">6.90</v><v s="BOS_2025Q3_C7_S2">-1.00</v><v s="BOS_2025Q3_C7_S3">2.00</v><v s="BOS_2025Q3_C7_S4">8.90</v></o>
<o d="2024-10-01"><v s="BOS_2025Q3_C7_S1">21.00</v><v s="BOS_2025Q3_C7_S2">8.00</v><v s="BOS_2025Q3_C7_S3">-2.00</v><v s="BOS_2025Q3_C7_S4">32.00</v></o>
<o d="2025-01-01"><v s="BOS_2025Q3_C7_S1">2.90</v><v s="BOS_2025Q3_C7_S2">2.00</v><v s="BOS_2025Q3_C7_S3">-1.00</v><v s="BOS_2025Q3_C7_S4">2.90</v></o>
<o d="2025-04-01"><v s="BOS_2025Q3_C7_S1">5.90</v><v s="BOS_2025Q3_C7_S2">3.00</v><v s="BOS_2025Q3_C7_S3">-3.00</v><v s="BOS_2025Q3_C7_S4">6.90</v></o>
<o d="2025-07-01"><v s="BOS_2025Q3_C7_S1">5.90</v><v s="BOS_2025Q3_C7_S2">9.90</v><v s="BOS_2025Q3_C7_S3">-11.90</v><v s="BOS_2025Q3_C7_S4">6.90</v></o>
</observations>
</data>