Quotes from TD Economics:- Being a small resource-based economy, it shouldn't come as a surprise that the recent 50% plunge in oil prices would hurt business confidence. Indeed, lower oil prices are expected to bring down corporate profits in 2015, which in turn will weigh on business investment, employment and overall economic activity in Canada.- Keeping it in perspective, average confidence for the year is still up 1 point from year ago levels as the economic environment has remained generally supportive of business activity, despite the recent slump in oil prices. And, average confidence for the last quarter of the year remains supportive of a continued decent pace of economic growth. – Lower oil prices have already scaled back optimism in energy-rich provinces and judging by the outlook on oil prices this is likely to continue in the quarters ahead. As such, a combination of lower a lonnie and sustained strength in U.S. demand are likely to foster the emergence of new confident provinces linked to the exports sector.
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