CICA/RBC Business Monitor (Q4 2009)

This CICA/RBC Joint Report interviews chartered accountants (CAs) working in senior executive positions for Canadian businesses, to determine their views regarding the economic prospects for their company, province and Canada in the upcoming year. The key findings are as follows:

• After two consecutive quarters of significant growth in optimism, the final quarter of 2009 was virtually unchanged from the previous quarter - 48% of respondents expressed optimism in the economy over the next twelve months, compared to 46% from Q3 2009. Of the remaining Q4 2009 respondents, 39% were neutral while 13% were pessimistic about the year ahead.
• On average revenues (+ 3.3%), profits (+3.2%) and employment numbers (+0.8%) are expected to increase in the next twelve months. In the same quarter a year ago, projections called for decreases in all three categories.
• In summary, 23% of respondents stated that their company’s profits did not decline during the recession.

(Read the CICA Media Release and Background Papers on the Survey.)