Business confidence wanes in Ontario's economy, says Chamber report

Now the Ontario Chamber of Commerce says we’ve reached a “new low” in its seventh annual Ontario Economic Report.

Surprisingly, respondents in northeastern Ontario expressed the highest degree of confidence in what lies ahead at 38 per cent, tied with folks with Stratford-Bruce Peninsula and just behind people in the London area at 43 per cent. Those surveyed in northwestern Ontario cumulatively registered at 34 per cent.

Somehow, 53 per cent of businesses polled remain optimistic about the immediate future and the growth prospects of their own organizations, as high employment rates and population growth should prevent a steep decline in consumer spending. The YMCA Northeastern Ontario Employment and Immigration Services reported between 50 to 80 new job postings every week – “an amount that was historically unheard of.”

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