Business conditions in Canada, fourth quarter of 2025

Release date: November 25, 2025 Correction date: March 18, 2026
More information PDF version

Correction Notice

On March 18, 2026, the survey weights applied across all Canadian Survey on Business Conditions tables for the fourth quarter of 2025 were corrected. Revisions were made to this infographic accordingly. Data points were revised in all sections, with revisions ranging from 0.1 to 0.6 percentage points.

Infographic: Business conditions in Canada, fourth quarter of 2025
Description: Business conditions in Canada, fourth quarter of 2025

Top obstacles expected by businesses over the next 3 months Table summary
This table displays the results of Top obstacles expected by businesses over the next 3 months , calculated using (appearing as column headers).
  Percent
Inflation 41.3%
Cost of insurance 26.4%
Cost of inputs 26.1%
Recruiting skilled employees 26.1%
Fluctuations in consumer demand 23.4%
Labour-related obstacles businesses expect over the next three months Table summary
This table displays the results of Labour-related obstacles businesses expect over the next three months , calculated using (appearing as column headers).
  Percentage of businesses
Recruiting skilled employees 26.1%
Retaining skilled employees 18.6%
Shortage of labour force 16.6%
Nearly two-thirds of businesses are optimistic about the next 12 months Table summary
This table displays the results of Nearly two-thirds of businesses are optimistic about the next 12 months , calculated using (appearing as column headers).
  Percentage of businesses
Very optimistic 20.5%
Somewhat optimistic 45.3%
Somewhat pessimistic 17.2%
Very pessimistic 4.8%
Don’t know 12.2%
Nearly two-fifths of businesses expect to increase their average wages over the next 12 months Table summary
This table displays the results of Nearly two-fifths of businesses expect to increase their average wages over the next 12 months , calculated using (appearing as column headers).
  Percentage of businesses
Higher wages 39.0%
Similar wages 44.0%
Lower wages 5.6%
Don’t know 11.3%
Over one-third of businesses reported that interest rates had a medium or high impact on their business over the last 12 months Table summary
This table displays the results of Over one-third of businesses reported that interest rates had a medium or high impact on their business over the last 12 months , calculated using (appearing as column headers).
  Percentage of businesses
High impact 14.8%
Medium impact 22.5%
Low impact 25.0%
No impact 23.8%
Unsure of impact 13.9%

Source: Statistics Canada, Canadian Survey on Business Conditions, fourth quarter of 2025.

More information

Note of appreciation

Canada owes the success of its statistical system to a long-standing partnership between Statistics Canada, the citizens of Canada, its businesses, governments and other institutions. Accurate and timely statistical information could not be produced without their continued co-operation and goodwill.

Standards of service to the public

Statistics Canada is committed to serving its clients in a prompt, reliable and courteous manner. To this end, the Agency has developed standards of service which its employees observe in serving its clients.

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, 2025

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

Catalogue no. 11-627-M

Frequency: Occasional

Ottawa

Date modified: