Businesses remain cautious about investment and hiring.
PLANT’s annual Business Outlook survey shows senior executives plan to spend an average of $1.4 million on machinery, equipment, technology, training and R&D next year.
Canadian manufacturers see the economy picking up over the next three years and they are preparing for business expansion with plans to hire, and invest in process improvements, facilities, technology, training and innovation, according to a survey of senior plant executives.
The global economy is coming back to life after last year’s economic meltdown, and Canadian manufacturers are getting back in the game. But they’re facing a very different business and trade environment.
The September numbers for manufacturing shipments were a bit of a downer. Statistics Canada reported a 0.6% decrease with 13 of 21 industries registering lower sales. This has pundits wringing their hands over how manufacturing’s ongoing malaise is going to mess up the Bank of Canada’s growth forecasts.