Bank of Canada Survey Is Not As Bad Yet
The business survey from the BOC for March was clearly negative, but not as bad as it should get this month
Skerdian Meta•Monday, April 6, 2020•1 min read
The Bank of Canada (BOC) released its monthly business outlook survey a while ago today. The survey was conducted in early March, although there were follow-ups later in the month. The commentary is probably more instructive than the numbers themselves:
BOC Business Outlook Survey
- Sentiment softened in most regions even before coronavirus concerns intensified
- Overall survey -0.7 vs +0.8
- Future sales +22 vs +11 prior
- Grocery retailers sales have reached unprecedented levels
- Majority of energy firms view current shock as worse than 2008 or 2015, with financing more difficult to obtain
- Businesses in the accommodation, food services and recreation industries sales and orders and reservations have collapsed.
The German chancellor Angela Merkel also commented a while ago on the situation surrounding coronavirus. German officials have refused the cries for help from the ECB to start spending more, but now it seems that coronavirus finally convinced them to open the purse strings.
- It’s not the time to talk about about easing restrictions
- Merkel says health will always be the priority
- Any possible restrictions will be done step-by-step
- Our goal is not to overwhelm our healthcare system
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
ABOUT THE AUTHOR
See More
Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
Related Articles
Comments
Subscribe
Login
Please login to comment
0 Comments
Oldest
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals