Make Your Next Move With Greater Confidence.
In today’s reality of business, relying solely on your instincts isn’t enough to stay ahead.
Gain deeper insights into current business conditions, market challenges, opportunities, and management plans with our CEO Confidence Index report—featuring perspectives from over 400 Canadian business leaders.
A Few Insights From the Report
The absence of widespread layoffs is a key reason why a “soft landing” is a possible outcome in 2024. This would be slow growth but not an outright contraction. The ability to stay employed has allowed consumers and homeowners to withstand the impact of current high-interest rates.
A consistent message in our surveys has been that layoffs are not likely. However, the latest survey results suggest that while the main message still holds, there are shifts under the surface.
Most responses (64%) still indicate that there will be no layoffs. However, 29% are now either undertaking layoffs or are considering them. This compares with 23% three months ago. In BC 34% are either undertaking or considering them.
Looking ahead, at the national level, a high percentage of respondents (45%) expect another year of deteriorating economic conditions in 2024. Quebec is again an outlier with 62% expecting a worsening.
Q1 2024 TEC CANADA CEO CONFIDENCE INDEX:
Visualizing Perspectives
ACCOMPANYING ON-DEMAND WEBINAR
Join TEC Canada’s CEO, Todd Millar, and Dr. Peter Andersen, discussing the latest findings from TEC Canada’s CEO Confidence Index survey. They will cover the current state of the Canadian, U.S., and global economies, and provide insights on how Canadian business leaders can prepare for the future.
Download the Full Report
Unlike other business outlook surveys that only include the largest firms in Canada, our CEO Confidence Index digs deep into what is happening in various provinces, revealing regional trends and providing a unique insight into the challenges and opportunities that matter most to leaders of Canadian SMEs.
About Dr. Peter Andersen
Dr. Peter Andersen is an independent consulting economist specializing in economic forecasting. He obtained his doctorate in economics from Harvard University. Early in his career he was Assistant Chief of the Bank of Canada’s Research Department where he advised the Governor and Bank of Canada management on economic conditions and the economic outlook. Later as a partner with a national management consulting firm, Andersen was an economic consultant and advisor to a wide range of companies. He has always emphasized communication and the need to put economic analysis into terms that are useful for business decision-making. Dr. Andersen also spent several years with several major Bay Street investment dealer firms before founding Andersen Economic Research Inc. His clients are widely distributed across a broad range of corporations and financial institutions throughout North America. His objective is to act as a filter, separating the signals from the noise, in order to provide clients with the useful information that they really need.