Canadian business remains optimistic about the state of the economy, reporting strong sales momentum and expecting inflation to remain under control...
The Bank of Canada's latest business survey reveals the strongest growth and highest degree of optimism is in Western Canada, where high prices for oil and gas are fuelling increased economic activity. The report notes that capacity restraints are more evident in the west than in the rest of the country, and pressures on production capacity are more pronounced in the primary, construction and transportation sectors.
So the biggest real economic problems now are:
- a need for added labour in the West, presumably leading to higher wages and standards of living in order to attract employees; and,
- a need to add capacity to meet demand, which will lead to added capital investment.
That's not a bad position to be in - no matter what Thomas D'Aquino tells you.
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