(Bloomberg) — Canadian business sentiment has fallen to its lowest level since the 2008-2009 recession as sales slow and uncertainty about future growth remains elevated, according to a survey of executives released Monday by the Bank of Canada.
The Ottawa-based central bank polled businesses between May 12 and June 5 to gauge sentiment during the pandemic. The results show that even as provinces begin to reopen their economies, many businesses are still struggling with weak demand.
The plunge in sentiment is hardly a surprise, given the nation fell into its deepest recession last quarter since the Great Depression. While there are some positive notes with the central bank highlighting that many businesses expect a fairly quick rebound, the overall gist of the data paints a business sector that has suffered a major shock.
Results “suggest that business sentiment is strongly negative in all regions and sectors due to impacts from