Business Conditions in Canada, third quarter of 2023
Description: Business Conditions in Canada, third quarter of 2023
Business expectations over the next three months
56.6% expect rising inflation to be an obstacle
52.9% expect profitability to remain relatively unchanged
47.7% expect the shortage of labour, or recruiting or retaining skilled employees to be an obstacle
44.7% expect the rising cost of inputs to be an obstacle
42.5% expect rising interest rates and debt-related costs to be an obstacle
Labour-related obstacles over the next three months
33.7% expect recruiting skilled employees to be an obstacle
30.3% expect the shortage of labour to be an obstacle
26.8% expect retaining skilled employees to be an obstacle
Environmental practices and barriers
68.4% have at least one environmental practice in place, such as reducing waste, reducing energy or water consumption, or using recycled or waste materials as inputs
65.6% do not plan to implement additional environmental practices over the next 12 months
32.7% report that clients not willing to pay a higher price could be a barrier to adopting more green practices over the next 12 months
31.5% report that a lack of financial resources could be a barrier to adopting more green practices over the next 12 months
| Second quarter of 2023 | Third quarter of 2023 | |
|---|---|---|
| percent | ||
| Expect difficulty acquiring inputs, products or supplies from within Canada | 16.5 | 13.8 |
| Expect maintaining inventory levels to be an obstacle | 10.6 | 8.1 |
| Expect difficulty acquiring inputs, products or supplies from abroad | 8.0 | 6.8 |
Source: Statistics Canada, Canadian Survey on Business Conditions, third quarter of 2023.
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