Business confidence wanes in Ontario, but northeast bucks trend

Business confidence in Ontario’s economy seemed to bottom out during the pandemic, however northeastern Ontario has the sunniest provincial outlook.

Across the board, the report shows business confidence in the outlook of Ontario’s economy in 2023 dipped to 16 per cent, down from 29 per cent last year. 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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