The Results Are In:
Accountants expect BC to drive
economic growth in Canada
By Patrick Schryburt
P
rofessional accountants are on the front lines of business, with firsthand knowledge of
the issues that affect purchasing and capital investment decisions, and unique insight
into the issues that keep business leaders awake at night.
Our 2013 Business Outlook Survey tapped into this fountain of knowledge, and results
revealed that BC’s professional accountants are moderately pleased with the current state of
the provincial economy and cautiously optimistic about its future prospects. This mirrors
respondents’ opinions about the broader Canadian economy. The results of the 2013 survey are
summarized below.
On the Canadian economy
More than 90% of the accountants surveyed rated Canada’s economy as “fair” or “good.” This
“Goldilocks” assessment was not surprising, as this was actually the fourth consecutive year in
which at least 9 out of 10 respondents gave the country such a moderate economic report card.
Respondents were slightly more optimistic in their outlook for the future, with 36.6% expecting
the Canadian economy to improve during the next two years, and 55.9% expecting it to stay
the same; by contrast, only 7.4% said they expect it to worsen. The overall outlook for the next five
years was even rosier, with 63.6% expecting an improved economy and only 5.7% anticipating
a downturn.
Business Valuation
Litigation Support
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Independence.
Integrity. Experience.
VancouVer
604.678.6411
Kelowna
250.448.7450
Don Spence FCA, FCBV, C.ARB
Derek Sanders CA, CBV, CFA
Tracey Harrop-Printz CGA
ToronTo
416.255.0993
Toll Free
800.658.7450
www.spencevaluation.com
www.tailwindgroup.ca
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CPABC in Focus • Nov/Dec 2013
On the BC economy
During the past decade or so, the nexus of
economic power in this country has shifted
west, away from the manufacturing hub in
Central Canada to the resource-rich provinces
in Western Canada. Consequently, it is not
surprising to see that expectations for BC’s
economy are now more closely aligned with
expectatio