Canadian Business Outlook Survey—Q4 2025

Insights from the Latest Business Outlook Survey

The most recent Business Outlook Survey gathered responses through face-to-face, video, and telephone interviews conducted between November 6 and November 26, 2025. In addition, the Business Leaders’ Pulse survey, which is carried out online each month, provides the latest data from October, November, and December 2025. This edition also features findings from targeted discussions with executives and specialists in the oil and gas industry.

Key Highlights

• While overall business confidence remains muted, it is still higher than the low point recorded in the second quarter of 2025.
• Many companies indicated that their sales growth has been sluggish over the past year, attributing this primarily to the economic impact of ongoing trade disputes.