Business Conditions in Canada, second quarter of 2023

Release date: May 29, 2023
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Infographic: Business Conditions in Canada, second quarter of 2023
Description: Business Conditions in Canada, second quarter of 2023

Business expectations over the next three months

56.0% expect rising inflation to be an obstacle

53.8% expect profitability to remain relatively unchanged

47.1% expect the shortage of labour, or recruiting or retaining skilled employees to be an obstacle

40.3% expect the rising cost of inputs to be an obstacle

38.5% expect rising interest rates and debt-related costs to be an obstacle

Labour-related obstacles over the next three months

36.0% expect recruiting skilled employees to be an obstacle

31.1% expect the shortage of labour to be an obstacle

27.3% expect retaining skilled employees to be an obstacle

Among the 47.1% of businesses that expect at least one labour-related obstacle:

  • 44.8% expect management to work increased hours
  • 40.0% expect this to limit the business’ growth
  • 38.5% expect existing staff to work increased hours
  • 36.4% expect to hire less suitable candidates
  • 27.1% expect delays in providing goods or services to customers

Fewer businesses expect supply chain challenges over the next three months
Table summary
This table displays the results of Table 1 First quarter of 2023 and Second quarter of 2023 (appearing as column headers).
First quarter of 2023 Second quarter of 2023
Expect difficulty acquiring inputs, products or supplies from within Canada 20.7% 16.5%
Expect maintaining inventory levels to be an obstacle 10.0% 10.6%
Expect difficulty acquiring inputs, products or supplies from abroad 9.4% 8.0%

Source: Statistics Canada, Canadian Survey on Business Conditions, second quarter of 2023.

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Copyright

Published by authority of the Minister responsible for Statistics Canada.

© His Majesty the King in Right of Canada, as represented by the Minister of Industry, 2023

Use of this publication is governed by the Statistics Canada Open Licence Agreement.

Catalogue no. 11-627-M

Frequency: Occasional

Ottawa

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