Economic indicator reveals encouraging news for Canadian economy

The attitude at some Canadian manufacturers and exporters is showing optimism for business conditions over the short-term.

According to the Canadian Manufacturers & Exporters' March Business Conditions Survey, less than half of all firms polled foresee declining orders through June - a significant improvement on the 56 percent figure from February.

The survey also revealed that more companies are looking to hire and fewer are planning layoffs compared to February forecasts.

"It’s a glimmer of hope in an otherwise bleak outlook," said CME president, Jayson Myers about the survey results. "I believe the real economic impacts are still to be felt, but it is encouraging news that the economic decline appears to be slowing."

Myers also noted that small businesses, much like their larger counterparts, continue to suffer because of the barriers to accessing credit. He says that a prolonged lack of access to the credit needed to run daily operations and propel growth could result in a more serious industrial meltdown.

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