Business conditions in Canada, third quarter of 2024

Release date: August 27, 2024
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Infographic: Business conditions in Canada, third quarter of 2024
Description: Business conditions in Canada, third quarter of 2024

The top 3 obstacles expected by businesses over the next 3 months are cost-related

Table 1 Table summary
This table displays the results of The top 3 obstacles expected by businesses over the next 3 months are cost-related , calculated using (appearing as column headers).
  Percent
Rising inflation 50.2
Rising cost of inputs 41.8
Rising interest rates and debt-related costs 34.1

Nearly 2 in 5 businesses expect labour-related obstacles over the next three months

Table 2 Table summary
This table displays the results of Nearly 2 in 5 businesses expect labour-related obstacles over the next three months , calculated using (appearing as column headers).
  Percent
Recruiting skilled employees 29.5
Shortage of labour force 22.3
Retaining skilled employees 20.5

Over 3 in 4 businesses are optimistic about the next 12 months

Table 3 Table summary
This table displays the results of Over 3 in 4 businesses are optimistic about the next 12 months , calculated using (appearing as column headers).
  Percent
Very optimistic 28.3
Somewhat optimistic 48.4
Somewhat pessimistic 9.9
Very pessimistic 3.2
Don’t know 10.2

10.6% of businesses plan to use artificial intelligence (AI) over the next 12 months to produce goods or deliver services

Top 5 AI applications these businesses plan to use over the next 12 months

Table 4 Table summary
This table displays the results of Top 5 AI applications these businesses plan to use over the next 12 months, calculated using (appearing as column headers).
  Percent
Text analytics 27.2
Data analytics 26.7
Marketing automation 19.4
Machine learning 18.8
Virtual agents or chatbots 18.7

Source: Statistics Canada, Canadian Survey on Business Conditions, third quarter of 2024.

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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, 2024

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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