Media Releases Feb 25, 2022

Supply chain delays to worsen in 2022, price hikes ahead for Canadians: Canadian Chamber of Commerce says


(OTTAWA) – February 25, 2022 – The Senior Director of the Canadian Chamber of Commerce’s Business Data Lab, Patrick Gill, issued the following statement on the new quarterly data within the Canadian Survey on Business Conditions.

“7 in 10 of businesses (71.9%) said supply chain challenges have worsened over the last three months of winter, but 9 in 10 businesses (91.4%) expect supply chain problems to remain the same or deteriorate further into the spring. Businesses say the top three reasons supply chain challenges have worsened are delays in deliveries (84.7%), higher input prices and supply shortages.

Rising costs of doing business, including inputs, labour, capital, energy and raw materials, is the biggest obstacle for businesses over the next three months. 6 in 10 businesses are likely to pass on the rising cost of doing business to customers over the next 12 months. The Canadian industries most likely to pass along costs are accommodation and food services (81.9%), wholesale trade (79.9%), manufacturing (79.9%) and construction (77%).”

The Canadian Survey of Business Conditions (CSBC) was created in the spring of 2020 by the Canadian Chamber of Commerce and Statistics Canada to ensure decision makers have timely, relevant data about what businesses are going through and how they are planning for the eventual recovery. The quarterly survey examines issues like the impact COVID-19 on businesses, changes businesses are making to adapt to evolving restrictions, and the challenges they expect to face as the recovery begins.

The CSBC is part of the Canadian Chamber’s Business Data Lab (BDL), which brings its entrepreneurial approach to improving how we understand business conditions in Canada by industry, geography, company size, ownership — including diversity and inclusion metrics — and international business activities. With the BDL, the Canadian Chamber will bring together data from a variety of sources to track evolving market conditions, providing businesses with critical information to help them make better decisions and improve their performance.

About the Canadian Chamber of Commerce — The Future of Business Success

The Canadian Chamber of Commerce is Canada’s largest and most activated business network — representing 450 chambers of commerce and boards of trade and more than 200,000 businesses of all sizes, from all sectors of the economy and from every part of the country — to create the conditions for our collective success. The Canadian Chamber of Commerce is the undisputed champion and catalyst for the future of business success. From working with government on economy-friendly policy to providing services that inform commerce and enable trade, we give each of our members more of what they need to succeed: insight into markets, competitors and trends, influence over the decisions and policies that drive business success and impact on business and economic performance. 

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Contact

Phil Taylor
Contact: ptaylor@chamber.ca (fastest response time)