MONTREAL, QUEBEC — (Marketwired) — 06/17/13 — More than half (56 per cent) of businesses in Quebec have a positive business outlook, according to BMO Bank of Montreal.
The findings are part of a BMO poll of business owners, conducted by Pollara, to determine what local entrepreneurs see as the competitive advantage of doing business in their province and what their intentions are for hiring in 2013. The survey revealed that:
“As the survey highlights, many business owners foresee a somewhat challenging year ahead but a positive shift may happen during the year as the U.S. economy continues to rebound,” said Francois Hudon, Senior Vice-President, Quebec Division and Co-Head, North American Specialized Sales, BMO Bank of Montreal. “The U.S. is a major export market for many Quebec-based companies, so steady improvements south of the border is good news for our commercial clients.”
Outlook for Growth in Quebec
When looking at the Canadian economy as a whole, one third (32 per cent) of Quebec business owners expect the Canadian economy to improve in 2013, while 22 per cent expect the Quebec economy to improve.
According to BMO Economics, Quebec is set to grow 1.2 per cent in 2013 and 1.8 per cent next year. In the first quarter of 2013, employment was up 2.6 percent year-over-year.
“Construction and health care were especially strong, although the latter has lost some momentum in recent months and the former is expected to soften with broader housing market trends”, said Robert Kavcic, Senior Economist, BMO Capital Markets.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $555 billion as at April 30, 2013, and more than 46,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.
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