<?xml version="1.0" encoding="UTF-8"?>
<data>
<terms url="https://www.bankofcanada.ca/terms/"></terms>
<groupDetail>
    <label>Chart 5: The war in the Middle East is weighing on firms’ sales</label>
    <description><![CDATA[Contribution of each category* to the balance of opinion on indicators of future sales†

* Firms were asked what factors are driving their sales expectations. The categories are based on firms that said the war in the Middle East is significantly affecting their expectations, either positively or negatively.

† Firms were asked whether their recent indicators of future sales (order books, advance bookings, sales inquiries, etc.) had improved, deteriorated or remained the same. The balance of opinion is calculated as the percentage of firms reporting that indicators have improved minus the percentage reporting that indicators have deteriorated.

Note: The share of firms positively affected by the war in the Middle East is 7%, the share negatively affected is 22%, and the share unaffected is 70%.

Source: Business Outlook Survey]]></description>
    <link>https://www.bankofcanada.ca/?p=254713</link>
</groupDetail>
<seriesDetail>
<series id="BOS_2026Q2_C5_S1">
<label>Contribution</label>
<description>Contribution</description>
<dimension key="k" name="Category"/>
</series>
</seriesDetail>
<observations>
<o k="Firms positively affected by the war in the Middle East"><v s="BOS_2026Q2_C5_S1">7</v></o>
<o k="Firms unaffected by the war in the Middle East"><v s="BOS_2026Q2_C5_S1">16</v></o>
<o k="Firms negatively affected by the war in the Middle East"><v s="BOS_2026Q2_C5_S1">-8</v></o>
</observations>
</data>