‘Data for Business’ is an effort of the Langley Chamber, in partnership with the Canadian Chamber’s Business Data Lab, to bring our members reports, stats, and analysis on economic and business data to help inform business and investment decisions. Read our latest update below:

The Q1 Business Insights Quarterly Report, based on a survey of over 15,000 Canadian businesses, highlights an eroding sense of optimism among businesses, particularly among exporters, despite some early signs of resilience in the economy in 2024.

Business Sentiment in Metro Vancouver
Overall, business confidence continues to weaken, with sentiment in Metro Vancouver trailing much of the rest of the country. The most significant drivers of this decline are worsening expectations for sales and profitability, as businesses grapple with ongoing economic pressures.

Exporters Facing Growing Uncertainty
Exporters are experiencing a sharp drop in confidence, reflecting mounting concerns over trade policy uncertainty, weakening demand, and supply chain disruptions. This marks only the second time in the past 15 quarters that exporters have reported greater overall pessimism than the broader business community.

Weak Consumer Demand Now a Bigger Concern Than Labour Challenges
For the second consecutive quarter, weak consumer demand has surpassed labour shortages as the top challenge facing businesses. As consumers pull back on spending, businesses are adjusting their expectations accordingly.

Tariff Threats Increasing Inflationary Risks
The threat—and now implementation—of new tariffs is already having ripple effects, with more businesses indicating plans to raise prices in the coming months, signaling renewed inflationary pressures.

Labour Market Normalizing, But Sector-Specific Challenges Remain
While Canada’s labour market has broadly returned to a pre-pandemic balance of supply and demand, certain industries continue to face recruitment challenges. Accommodation and food services, administration, construction, and retail are expected to see the most labour shortages over the next three months.

Read the full report here or click below: