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06.07.2020 23:05

BoC's Business Outlook Survey: Sentiment is strongly negative in all regions and sectors due to impacts from COVID‑19 pandemic and drop in oil prices

  • Overall Business Outlook Survey indicator fell sharply (to -7.0 in Q2 from 0.5 in Q1) due to the impacts of COVID‑19 pandemic and measures to contain the spread of the virus
  • Businesses expect weakness in domestic and foreign demand to continue due to impacts from COVID‑19 and low oil prices
  • Forward-looking sales indicators collapsed; now at a record-low level, future sales indicators are suggesting a notable decline in sales growth in the near term
  • Softer sales expectations are widespread across all regions and sectors, with firms often expressing high degree of uncertainty about consumer behaviour and future demand
  • Half of exporters expect their sales abroad to decrease over the next 12 months
  • However, many businesses expect weakness in their sales to be temporary and not extend over entire 12-month period ahead; half of firms anticipate that their sales will mostly recover within next year as pandemic-related impacts recede
  • Businesses in most regions and sectors intend to significantly cut their investment spending; hiring plans are muted
  • Expectations for input and output price growth as well as for overall inflation are all down considerably because of weak demand related to the pandemic
  • Firms’ inflation expectations declined significantly to a near-record low; many businesses anticipate inflation will be below 1 percent over the next two years
  • Credit conditions have tightened significantly, but government measures are helpful offset


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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
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Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
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Sydney 21:00 06:00 00:00 09:00 00:00 09:00
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Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
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Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
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European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
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London 07:00 16:00 10:00 19:00 10:00 19:00
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American New York 12:00 21:00 15:00 00:00 15:00 00:00
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Chicago 13:00 22:00 16:00 01:00 16:00 01:00