The Financial Post reports in its Tuesday, July 6, edition that Canadian consumers and businesses are entering the second half of the year brimming with confidence about the nation's economic prospects, a signal of what could be an imminent boom.
A Bloomberg dispatch to the Post reports that a gauge of business sentiment released by the Bank of Canada rose to record levels. Separate surveys of consumer confidence from the BOC and Bloomberg News found optimism at or near all-time highs.
The numbers will stoke expectations among economists and policy makers that households and business will be in a spending mood as pandemic restrictions are lifted, particularly because they have a massive stock of savings accumulated during the crisis. The results also increase the likelihood the BOC will continue paring back its aggressive monetary policy stance at its July 14 policy decision.
The BOC's latest quarterly survey of executives showed the extent to which the vaccine campaign has improved sentiment.
Senior managers reported strong sales outlooks, elevated investment intentions, record hiring plans, capacity constraints at all-time highs and rising expectations for higher inflation and wages.
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