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Toronto (December 17, 2012) – Today, Business News Network (BNN) presents the findings of the 29th quarterly C-SUITE survey sponsored by KPMG and conducted by Gandalf Group. Starting at 8 a.m. ET and continuing throughout the day, BNN taps into the country’s top business minds to deliver analysis on major economic developments; the performance of companies and their leaders; Canada’s trading international trade relationships; and what it all means for 2013.
This edition of the survey delves into negative developments of the past year - from the rejection of the Keystone XL pipeline and the United States’ inability to address the “fiscal cliff”, to the Bank of Canada’s approach to lending rates in 2012 and other positive developments of the past year.
BNN’s in-depth look at the C-Suite Quarterly Survey findings includes feature interviews throughout the day on THE STREET at 8:20 a.m. ET; BUSINESS DAYat 11:15 a.m. ET; THE BUSINESS NEWS at 12:20 p.m. ET; BUSINESS DAY at2:20 p.m. ET; and THE CLOSE just after the market day ends at 4:30 p.m. ET. BNN’s analysis of the findings will be available online at BNN.ca post-broadcast.
“The impact of the U.S. and worldwide financial uncertainties on our economy is a top concern for Canadian executives,” said Jack Fleischmann, General Manager, BNN. “Canada’s top decision-makers are nearly unanimous in their opinion that Canada will have to rely more heavily on emerging markets and less on U.S. growth in order to remain prosperous.”
Key stats and findings of the 29th C-SUITE Survey include:
• Global economic uncertainty, negative impacts of the U.S. economy on Canada, Canada's economic stability, and access to new global markets were cited as the top four challenges facing the Canadian economy by respondents of the 29th C-Suite.
• Top concern, looking back on 2012: uncertainty surrounding the U.S.
• The failure to deal with the “Fiscal Cliff” is one of the most negative events to impact Canada, just ahead of the rejection of the Keystone XL pipeline.
• The top performer on the economy in 2012: Bank of Canada Governor Mark Carney, with positive remarks regarding Prime Minister Harper coming primarily from Western Canada.
• Looking forward to 2013, most executives believe their companies will have better results than in 2012.
• China is the clear priority region for building trade relationships, but both India and Latin America were seen as very important markets.
• Overall, 63% of C-Suite respondents view the CNOOC takeover of NEXEN to be positive for Canada, with a considerably higher percentage (82%) of executives from Western Canada viewing the prospect as positive.
• The outlook for Canada's economy remains mostly positive, with 74% of executive respondents predicting Canada's economy will grow in 2013.
• The CRTC ruling on the Bell-Astral deal is "somewhat concerning" to most executives surveyed.
The C-Suite Survey is conducted by Gandalf Group and sponsored by KPMG.
BNN – Business News Network is Canada's only television service devoted exclusively to business and finance news with wall-to-wall coverage of the markets. The network features the only televised stock ticker with real-time data from the TSX, NYSE and NASDAQ. BNN provides Canadian investors with the latest business news, newsmaker interviews and stock market analyses. BNN is a division of Bell Media, which is owned by BCE Inc. (TSX, NYSE: BCE), Canada’s largest communications company. For more information about BNN, visitwww.bnn.ca.
About Gandalf Group
The Gandalf Group is an opinion research and communications consulting firm. The firm's principals are nationally recognized leaders in research and communications strategy, providing advice to business, industry associations, public sector agencies and media outlets. The Gandalf Group has been conducting quarterly editions of the C-Suite survey on behalf of KPMG, The Globe and Mail's Report on Business and BNN since 2006. Past editions of reports on survey findings are available at GandalfGroup.ca.
KPMG LLP, the audit, tax and advisory firm (kpmg.ca), a Canadian limited liability partnership established under the laws of Ontario, is the Canadian member firm of KPMG International Cooperative (“KPMG International”). KPMG International’s member firms have 140,000 professionals, including more than 7,900 partners, in 146 countries.
The independent member firms of the KPMG network are affiliated with KPMG International, a Swiss entity. Each KPMG firm is a legally distinct and separate entity, and describes itself as such
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