Businesses expect slower sales in short term as cost, labour issues persist: survey
Businesses expect subdued sales in the short term as they face continued cost and labour pressures, despite slowing inflation, according to a survey by the Canadian Chamber of Commerce.
The retail, accommodation and food services sector, along with wholesale trade, construction and manufacturing sectors, reported feeling the most impacted by ongoing price pressures. Inflation slowed to 5.9 per cent in January, down from 6.3 per cent the month prior. Statistics Canada is expected to release February’s inflation rate next Tuesday.
Around three-quarters of companies with recruiting and retention challenges believed this will hinder their production.
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