Join        Login             Stock Quote

BMO: Canadian Business Confidence Remains High

Friday, April 5, 2013 2:52 PM

- Employment rate up from year-ago levels, despite drop in March - More than half of business owners expect 2013 to be a better year for business

TORONTO, ONTARIO--(Marketwired - April 5, 2013) - Despite a drop in Canadian employment numbers in March, Canadian businesses remain confident about their business prospects for 2013, according to the latest BMO Small Business Confidence Report.

While the unemployment rate rose to 7.2 per cent, employment is still up 1.2 per cent from year-ago levels. "March saw big gains in more than half the industry groups, although manufacturing, hotels & restaurants and public administration saw losses," said Doug Porter, Chief Economist, BMO Capital Markets. "We experienced a positive shift in the number of Canadians becoming entrepreneurs. These individuals remain upbeat on the outlook and confident in their skillsets."

The BMO Small Business Confidence Report also found:

  • More than half (52 per cent) expect 2013 to be a better year for business and 45 per cent anticipate their business will grow;
  • More than one-quarter (28 per cent) of business owners plan to invest more in their business this year, up since the fall.

"The Canadian economy has weathered many storms through the recent economic downturn, and businesses across the country continue to perform well. However, it's important that businesses remain adaptable to change and look for ways to grow beyond our borders," said Steve Murphy, Senior Vice President, Commercial Banking, BMO Bank of Montreal. "The U.S. economy is showing strong signs for growth this year, providing positive implications for Canadian businesses looking south for opportunities."

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $542 billion as at January 31, 2013, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.

Contact Information:
News Media Contacts:
Peter Scott, Toronto
(416) 867-3996

Russell Baker, Toronto
(416) 867-3996

Valerie Doucet, Montreal
(514) 877-8224

Laurie Grant, Vancouver
(604) 665-7596

Internet: www.bmo.com
Twitter: @BMOmedia

(Source: CCN )
(Source: Quotemedia)


Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.