The fallout from the commodities price rout may prove to be more lasting than that of the 2008 global financial crisis. Economies dependent on oil and minerals have borne the full brunt of the price drop, but even mature, diversified economies such as Canada’s have trouble dealing with the consequences of an 80 percent slide in the price of crude over 16 months and similarly major declines in other key commodities. A business sentiment survey conducted by the Bank of Canada among 100 companies between May and June has revealed that local businesses are wary of new investments, with the majority of respondents not planning any over the next 12 months. The situation is understandably the worst in energy and related industries, where many businesses are preparing a new round of cost cuts, while service providers are guardedly optimistic, planning to add new jobs. The goods […]