Business conditions in Canada, second quarter of 2022
Description: Business conditions in Canada, second quarter of 2022
Business expectations over the next three months
76.9% expect to keep the same number of employees
52.5% expect profitability to remain relatively unchanged
49.7% expect the rising cost of inputs to be an obstacle
39.3% expect transportation costs to be an obstacle
39.0% expect to raise the prices of goods and services
30.3% expect the demand for products and services to increase
28.2% expect difficulty acquiring inputs, products or supplies from within Canada
44.0% of businesses expect increases in energy expenses over the next three months. To adapt to such increases, these businesses plan to:
raise the prices of goods and services (56.8%)
change business practices or processes to reduce energy consumption (18.7%)
invest in or switch to energy-efficient technologies (8.8%)
purchase fewer inputs, both energy-related and non-energy related (8.0%)
Labour
55.2% of businesses expect inflation to be a bigger issue when discussing wage increases with employees over the next 12 months
36.9% expect recruiting skilled employees to be an obstacle
35.0% expect the labour force shortage to be an obstacle
27.6% expect retaining skilled employees to be an obstacle
Of businesses that expect labour-related obstacles, 58.7% find recruiting and retaining staff more challenging than 12 months earlier
Supply chain
Of businesses that expect supply chain challenges over the next three months…
67.9% reported that supply chain challenges have worsened over the last three months
31.2% reported that they plan to work with suppliers to improve timeliness over the next 12 months
30.5% reported that they plan to partner with new suppliers over the next 12 months
26.4% reported that they plan to substitute inputs, products or supplies with alternate inputs, products or supplies over the next 12 months
Source: Statistics Canada, Canadian Survey on Business Conditions, second quarter of 2022.
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