Just 21% of accountants positive on economy

A 21% minority of senior accountants are optimistic about the Canadian economy, according to a survey by the Chartered Professional Accountants of Canada.

CPA Canada surveyed 486 senior professional accountants from June 24 to July 11, finding uncertainty about the economy and concerns about protectionist sentiment in the U.S. and Britain.

Surprisingly, 78% say negotiating a trade deal with the U.K. should be a priority for Ottawa, and 69% express concern that the next U.S. president, whomever it is, will enact more restrictive trade policies with Canada.

Read: U.S. slowdown will weigh on global growth

Just over half (53%) of the leaders surveyed were neutral about the economy’s future, while 26% were pessimistic. The poll found 21% were optimistic.

The senior accountants cite oil prices as the No. 1 challenge to growth in Canada, followed by the outlook for U.S. and global growth.

“Oil prices, a coming U.S. election and Brexit are all factors likely contributing to the wait and see approach,” says Joy Thomas, head of CPA Canada.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.