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Grant Thornton: Canadian Business Optimism Rebounds in Second Quarter

TORONTO--(BUSINESS WIRE)--Canadian business optimism has rebounded from last quarter according to the latest research from the Grant Thornton International Business Report (IBR).

A balance* of 70% of the 600 Canadian business leaders surveyed said they were feeling optimistic, up 19 points from the first quarter of this year. Optimism was highest in Western Canada at 73%, with Ontario at 62%, Quebec at 53% and Atlantic Canada at 48%.

Canada stood out in the IBR as having the highest optimism rate amongst developed economies around the world. By comparison, the United States was significantly lower at 50%, and the global average sits at just 23%. Key Canadian sectors like construction and real estate (65%), retail (61%) and manufacturing (46%) sat below the national average.

But while global optimism remains low, there is a glimmer of hope on the horizon as IBR results show that plans for business investment around the world - and especially in emerging markets - has nudged up slightly over the past 18 months. The proportion of businesses looking to increase investment in new buildings has risen from 15% to 21%. Anticipated investment in plant and machinery went from 35% to 38%.

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