<?xml version="1.0" encoding="UTF-8"?>
<data>
<terms url="https://www.bankofcanada.ca/terms/"></terms>
<groupDetail>
    <label>Chart 1: Sentiment is subdued but remains above the 2025 survey low</label>
    <description><![CDATA[Excluding normal seasonal patterns, how would you rate current business conditions for your firm?  (Double-weighted balance of opinion*)

* Percentage of firms reporting positive sentiment minus the percentage reporting negative sentiment. Responses of “very good” business conditions and “very poor” business conditions are given twice the weight of responses of “good” business conditions and “poor” business conditions. The range of potential outcomes of this double-weighted balance of opinion is -200% to 200%.

Source: Business Leaders’ Pulse]]></description>
    <link>https://www.bankofcanada.ca/?p=251075</link>
</groupDetail>
<seriesDetail>
<series id="BOS_2025Q4_C1_S1">
<label>3-month moving average</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
<series id="BOS_2025Q4_C1_S2">
<label>Historical average balance of opinion, 3-month moving average</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
</seriesDetail>
<observations>
<o d="2022-06-01"><v s="BOS_2025Q4_C1_S1">59.5</v><v s="BOS_2025Q4_C1_S2">24</v></o>
<o d="2022-07-01"><v s="BOS_2025Q4_C1_S1">54.2</v><v s="BOS_2025Q4_C1_S2">24</v></o>
<o d="2022-08-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">52.1</v></o>
<o d="2022-09-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">54.0</v></o>
<o d="2022-10-01"><v s="BOS_2025Q4_C1_S1">39.1</v><v s="BOS_2025Q4_C1_S2">24</v></o>
<o d="2022-11-01"><v s="BOS_2025Q4_C1_S1">34.5</v><v s="BOS_2025Q4_C1_S2">24</v></o>
<o d="2022-12-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">36.0</v></o>
<o d="2023-01-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">38.0</v></o>
<o d="2023-02-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">33.1</v></o>
<o d="2023-03-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">33.7</v></o>
<o d="2023-04-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">31.7</v></o>
<o d="2023-05-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">28.8</v></o>
<o d="2023-06-01"><v s="BOS_2025Q4_C1_S1">27.0</v><v s="BOS_2025Q4_C1_S2">24</v></o>
<o d="2023-07-01"><v s="BOS_2025Q4_C1_S1">25.6</v><v s="BOS_2025Q4_C1_S2">24</v></o>
<o d="2023-08-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">25.5</v></o>
<o d="2023-09-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">21.9</v></o>
<o d="2023-10-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">17.9</v></o>
<o d="2023-11-01"><v s="BOS_2025Q4_C1_S1">11.4</v><v s="BOS_2025Q4_C1_S2">24</v></o>
<o d="2023-12-01"><v s="BOS_2025Q4_C1_S1">9.0</v><v s="BOS_2025Q4_C1_S2">24</v></o>
<o d="2024-01-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">12.5</v></o>
<o d="2024-02-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">19.0</v></o>
<o d="2024-03-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">19.2</v></o>
<o d="2024-04-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">18.5</v></o>
<o d="2024-05-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">16.8</v></o>
<o d="2024-06-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">20.9</v></o>
<o d="2024-07-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">19.0</v></o>
<o d="2024-08-01"><v s="BOS_2025Q4_C1_S1">22.3</v><v s="BOS_2025Q4_C1_S2">24</v></o>
<o d="2024-09-01"><v s="BOS_2025Q4_C1_S1">21.1</v><v s="BOS_2025Q4_C1_S2">24</v></o>
<o d="2024-10-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">21.9</v></o>
<o d="2024-11-01"><v s="BOS_2025Q4_C1_S1">21.2</v><v s="BOS_2025Q4_C1_S2">24</v></o>
<o d="2024-12-01"><v s="BOS_2025Q4_C1_S1">19.1</v><v s="BOS_2025Q4_C1_S2">24</v></o>
<o d="2025-01-01"><v s="BOS_2025Q4_C1_S1">17.1</v><v s="BOS_2025Q4_C1_S2">24</v></o>
<o d="2025-02-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">16.3</v></o>
<o d="2025-03-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">8.5</v></o>
<o d="2025-04-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">2.1</v></o>
<o d="2025-05-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">-0.1</v></o>
<o d="2025-06-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">5.1</v></o>
<o d="2025-07-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">9.6</v></o>
<o d="2025-08-01"><v s="BOS_2025Q4_C1_S1">15.1</v><v s="BOS_2025Q4_C1_S2">24</v></o>
<o d="2025-09-01"><v s="BOS_2025Q4_C1_S1">19.0</v><v s="BOS_2025Q4_C1_S2">24</v></o>
<o d="2025-10-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">21.3</v></o>
<o d="2025-11-01"><v s="BOS_2025Q4_C1_S2">24</v><v s="BOS_2025Q4_C1_S1">20.2</v></o>
<o d="2025-12-01"><v s="BOS_2025Q4_C1_S1">19.6</v><v s="BOS_2025Q4_C1_S2">24</v></o>
</observations>
</data>