While 61 per cent of global chief executive officers expect global economic growth to improve, only 47 per cent of Canadian CEOs agree, and confidence in Canada’s own economy has plunged to 27 per cent (down from 42 per cent last year), according to a new survey by PwC Management Services LP.
The survey, which polled more than 130 Canadian CEOs, found short-term revenue confidence (12 months) is also down to 36 per cent, but nearly half remain optimistic over a longer-term period (three years). More than half (53 per cent) of respondents cited concerns about the impact of U.S. trade policy and tariffs and 35 per cent said they expect reduced profit margins in the next year.
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While 94 per cent of Canadian CEOs reported using artificial intelligence to some extent, only 29 per cent applied it at scale, compared to 43 per cent globally. Also, just 37 per cent of Canadian organizations reported having a defined AI roadmap, compared to 51 per cent globally.
More than half (56 per cent) have entered new sectors in the past five years and 64 per cent plan to expand into at least one new sector in the next three years. Additionally, 63 per cent said they plan to make at least one acquisition in the next three years.
“For the first time in over five years, Canadian CEO sentiment is moving in the opposite direction of global optimism,” said Nicolas Marcoux, chief executive officer of PwC Canada, in a press release. “The headwinds in Canada — trade uncertainty, tariff pressures and slower adoption of transformative technologies like AI — are significant and very real. But they’re also a catalyst. We’re seeing Canadian companies rise to the challenge by reinventing themselves; entering new sectors, accelerating innovation and embracing AI to build resilience and unlock growth.”
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