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Canadian Small-Business Investment Shows Shift in Economy, Reuters

June 26, 2015, 07:01 AM
Filed Under: International

Reuters reported that small-business investment increased in most parts of Canada in the first quarter, with the exception of two of the country's most oil-sensitive provinces, as firms adjusted to the fallout of lower crude prices, data from PayNet showed on Thursday.

PayNet said a shift in the economy is underway, as regions less reliant on oil production make a greater contribution to growth. It estimates it will take another one to two years for this shift to play out, according to the Reuters report.

According to the Reuters report, the regional breakdown, which was prepared exclusively for Reuters, showed that Alberta and Saskatchewan together were the only part of Canada to see a decrease, with investment falling by an average 1 percent in the first quarter compared with the fourth quarter of last year. In Ontario, Canada's most populous province and its manufacturing heartland, investment rose 1 percent. In British Columbia and Manitoba investment rose 4 percent, while Quebec saw an increase of 2 percent. In the Maritime provinces investment rose 3 percent.

To read the full Reuters report, click here.

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