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Business Outlook Survey—Fourth Quarter of 2022
Business sentiment has deteriorated again. In an environment with softening demand and moderating capacity constraints, results for almost all survey questions used to calculate the Business Outlook Survey (BOS) indicator have decreased. The BOS indicator declined this quarter to roughly zero (Chart 1). This level is slightly below the average of the past 10 years, suggesting business confidence is somewhat weaker than usual. Concerns about demand and credit have risen among firms (Chart 2). While many businesses still view cost pressures, labour shortages and supply chain issues as pressing, these challenges have ... (full story)