The week ahead should bring further signs of a deepening economic recovery as job creation is likely to return to a healthy clip and business confidence is expected to rise.
On Monday, the Bank of Canada's first-quarter Business Outlook Survey is expected to show growing optimism among business leaders, with the balance of opinion for future sales rising to 27 from the previous quarter's 22.
"The first quarter survey was conducted up until mid-March, with the tail end just catching Japan's crises and the unrest in Libya, but also capturing the market upswing in the U.S. outlook since the fourth-quarter survey," said BMOCapital Markets deputy chief economist Douglas Porter.
"Even before the U.S. recovery was on a firmer footing, Canadian business was positive on future sales, capital spending and hiring plans. If the bank's surveys are uniform in their message that the recovery is deepening and broadening, it could bring forward the market's view of when the rate hikes will resume," Porter added.
Canadian government data in the past week showed a resurgent manufacturing sector pushing up gross domestic product for the fourth straight month in January and on a clip to generate red-hot first-quarter growth of nearly 6%.
Source: www.canada.com
On Monday, the Bank of Canada's first-quarter Business Outlook Survey is expected to show growing optimism among business leaders, with the balance of opinion for future sales rising to 27 from the previous quarter's 22.
"The first quarter survey was conducted up until mid-March, with the tail end just catching Japan's crises and the unrest in Libya, but also capturing the market upswing in the U.S. outlook since the fourth-quarter survey," said BMOCapital Markets deputy chief economist Douglas Porter.
"Even before the U.S. recovery was on a firmer footing, Canadian business was positive on future sales, capital spending and hiring plans. If the bank's surveys are uniform in their message that the recovery is deepening and broadening, it could bring forward the market's view of when the rate hikes will resume," Porter added.
Canadian government data in the past week showed a resurgent manufacturing sector pushing up gross domestic product for the fourth straight month in January and on a clip to generate red-hot first-quarter growth of nearly 6%.
Source: www.canada.com
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