As the local economy headed into the fourth quarter of 2015, overall business confidence is down almost five points since April 2015 from 119.2 to 114.4. Confidence is down to levels measured at the end of 2013.
The shift in overall business confidence was driven by a deterioration in positive expectations when it comes to future market conditions, sales growth, and work force expansion.
Business confidence was higher among those in the banking (131.4), consulting (121.4), technology (122) and manufacturing (120.8) sectors and lower among those in hospitality (103.2), construction (98.2), and retail (84.0).
On behalf of the Chamber of Commerce, the Ottawa Business Journal, and Welch LLP, I would like to thank everyone who completed this wave of the Ottawa Business Growth Survey. The next wave of research will be completed in Q2 of 2016.
The Ottawa Business Growth Survey is a joint project supported by the Ottawa Chamber of Commerce, Abacus Data, the Ottawa Business Journal, and Welch LLP. In the latest wave of the survey, 353 Ottawa business leaders completed at least 50% of the short survey from September 30 to October 26, 2015.
Respondents were recruited from the membership of the Ottawa Chamber of Commerce and readers of the Ottawa Business Journal. New to this wave, members of 11 BIAs across the city, the National Capital Heavy Construction Association, and the Ottawa Construction Association were also invited to complete the survey.
David Coletto is CEO of market research firm Abacus Data. He has been conducting research and advising some of Canada’s leading companies on the Millennial generation since 2011. Abacus runs www.canadianmillennials.ca, Canada’s leading online resource for Generation Y in Canada. For more information on Abacus Data, visit www.abacusdata.ca
David also holds a doctorate in Political Science from the University of Calgary.