TORONTO — A new report suggests Canadian CEOs have become less confident in the global economy with less than half expecting it to improve this year, even as their international peers are more optimistic.
PwC Canada’s latest annual survey of global CEOs says 61 per cent of them expect improved economic growth in the next 12 months, up from 58 per cent last year, however just 47 per cent of the 133 Canadian chief executives surveyed agree.
Canadian CEOs’ confidence in the domestic economy has also taken a tumble, with only 27 per cent expecting improvements compared with 42 per cent a year ago.
PwC Canada chief executive Nicolas Marcoux calls it a “watershed moment” for Canadian business leaders, with this marking the first time in more than five years that Canadian CEO sentiment appears to be moving in the opposite direction of global optimism.
The report says Canadian CEOs are more concerned than their peers about U.S. trade policy and tariffs, with 53 per cent worried about those factors, and 35 per cent expecting reduced profit margins in the next year.
They also cite slower AI adoption within Canada, as only 29 per cent of Canadian CEOs report having applied such technology at scale compared with 43 per cent globally.