Canadian CEOs said territorialism and climate risks top the list of business constraintsClick image to enlargeCanadian CEOs are more optimistic about the future than their global counterparts, finds KPMG's latest Global CEO Outlook.

The report says 12 per cent of Canadian CEOs are significantly or moderately less confident than in January, compared to 29 per cent globally. Further, 40 per cent remain as confident as they did pre-pandemic, versus 26 per cent of global CEOs.

Across the board, Canadian CEOs felt much or moderately more confident in the three-year growth prospects for their country (48 per cent vs. 45 per cent globally), their industry (56 per cent vs. 55 per cent globally), and their company (84 per cent vs. 67 per cent globally).

"The actions taken in Canada to flatten the COVID-19 curve and keep cases fairly subdued means that CEOs here feel more assured than their global peers that our national economy will not collapse, with only 12 per cent feeling the economy is in a worse position today than it was pre-COVID," says Stephanie Terrill, business unit leader, management consulting, KPMG in Canada.

"Canadian CEOs also feel more bullish about the prospects of their own firms and are accelerating their investments in digital technologies, reflecting the need to find new ways of working and problem solving going forward," she said.

Canadian CEOs said territorialism and climate risks top the list of business constraints, with emerging technologies, talent risk, and cyberattacks rounding out the top threats to growth.

Three quarters (76 per cent) of Canadian CEOs agree that investing in disruptive technologies, such as artificial intelligence and automation, is critical to achieve long-term sustainable growth—compared to 72 per cent globally—the vast majority (92 per cent) say COVID-19 has accelerated the digitization of their operations.

Hurco acquires Italian machine tool parts business, LCM

Hurco Companies Inc., Indianapolis, IN, has acquired the machine tool component business of LCM Srl, Asti, Italy. LCM, formed in 1986, designs and manufactures mechanical components and accessories for machine tools.

Watch: Canada federal election called

With the federal election just announced for October 21, BNN Bloomberg has conducted an informal poll to find out which issues matter most to Canadian voters.

GM Canada and Unifor reach “transformation agreement” on Oshawa

GM Canada and Unifor, the union representing workers at GM’s Oshawa assembly plant, have reached an agreement to transition the plant’s vehicle assembly operations to parts manufacturing and advanced vehicle testing.

Canadian factory sales rise slightly in April

Statistics Canada figures released last week show that Canadian wholesale trade increased by 0.1 per cent in April from March.

Technical school to take over Windsor skills training centre

The Valiant Training & Development Centre is undergoing a change to become the St. Clair College Skilled Trades Regional Training Centre.

Schunk invests 85 M euros in Germany, US facilities

Schunk has announced a broad-based investment program that will see around 85 million euros (about Cdn$127 million) invested in three German facilities and one site in the US.

Creaform expands with new facility

Portable 3D measurement supplier Creaform is moving its global headquarters to a larger facility in Levis, QC, to support growing business.

RoboVent launches clean air initiative

RoboVent has launched a new program to help the manufacturing industry better understand and address air quality issues in manufacturing facilities.

Plant tour promotes women’s participation in manufacturing

This week 100 young women aged 14 and 15 visited the Algoma Steel and Tenaris’s AlgomaTubes plants in Sault Ste. Marie Ont. as part of a Canadian Manufacturers & Exporters (CME) initiative to encourage more women to choose a manufacturing career.

Training for Canadian manufacturers

by Tim Wilson

A report released at the end of last year by PwC found that Canadian manufacturers want to hire but are unable find the right people.

Inter Pipeline nabs $408M provincial grant

Inter Pipeline Ltd. will receive $408 million from the Alberta Petrochemicals Incentive Program (APIP) to support the company’s Heartland Petrochemical Complex (HPC).

Ford aluminum truck body wins auto show award

The all-aluminum body of Ford's 2015 F-150 truck won the Best New Innovation Technology award at the Montreal International Auto Show.

Amada opens Toronto Technical Centre

Amada Canada Ltd. has opened a new technical centre to better service Canadian customers.

ABB DC charger supports EVs in Ontario

Community-owned energy company PowerStream unveiled ABB's Terra 53 multi-standard DC fast charger at the company's Vaughn, ON, head office. The ABB fast charger is part of PowerStream's vehicle-to-grid technology initiatives.

Canadian manufacturing sees strongest performance since 2014

Canada's economic performance has hit a new high with the latest figures indicating that manufacturing performance is the strongest since 2014.

Stay In Touch

twitter facebook linkedIn