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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada Business Outlook Survey Indicator climbed to 4.7 in September 2021
FMPMonthlyReleased October 2021
Canada Business Outlook Survey Indicator climbed to 4.7 in September 2021, released October 2021, up 0.7 from August's 4 reading.
Latest Release
4.700000
Actual
—
Consensus
4.000000
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| USD/CAD | ▼ Inverse | −0.50 | FOREX | Moves against | → View |
| CAD/JPY | ▲ Direct | +0.45 | FOREX | Moves with | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Moves with | → View |
| EUR/CAD | ▼ Inverse | −0.35 | FOREX | Moves against | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Business Outlook Survey Indicator (Canada) was reported at 4.70 in October 2021. The reading rose from the previous value of 4.00.
WHY IT MATTERS
The indicator has been trending upward over the last three releases.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/CAD (Bullish CAD). A secondary relationship exists with CAD/JPY, positively correlated (Bullish CAD).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Balance of Trade (Aug 4) and S&P Global Manufacturing PMI (Aug 4).
Auto-generated from current model state · Refreshes on each release · Last update October 2021.
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Business Outlook Survey Indicator - CA
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About Business Outlook Survey Indicator — Canada
DEFINITION
The Business Outlook Survey Indicator is a key financial measure that provides insight into the current and future economic conditions of a specific industry or market. It is based on a survey of businesses and their expectations for sales, profits, and overall business outlook. This indicator is used by investors, policymakers, and businesses to make informed decisions and assess the overall health of the economy. It is a valuable tool for predicting trends and identifying potential risks and opportunities in the business landscape.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jul 2021): actual 4.7. Prior reading (Jul 2021): 4.7. Before that (Apr 2021): 4.2.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/CAD (Bullish CAD, r=-0.50) — a useful reference for forex-focused traders.
Σ
EXPECTED ZONE
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Economic Calendar - CA Events
| Thursday, July 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 12:30 | CA | Average Weekly Earnings | 3.4 | 3.67 | 3.7 | 3.55 | Low |