DESPITE TUMBLING CONFIDENCE IN FEDERAL GOVERNMENT'S PRO-GROWTH EFFORTS, CANADA'S CEOS BULLISH ON PERFORMANCE OF THEIR CORPORATION AND THE ECONOMY IN 2000

Nevertheless, CEOs Expect Better Performance from Their Corporation (85%) and the National Economy (71%) in 2000

Nortel Networks Leads the Pack - VotedCanada's Most Respected Corporation by Nation's CEOs

Toronto, Ontario -- According to the results of the Angus Reid/Report on Business Magazine sixth annual survey of 300 of Canada's top CEOs, the nation's business leaders are bullish about their company and the economy in 2000 despite tumbling confidence in the federal government's pro-growth efforts. Up 11 points from last year's wave of the study, 58 percent of Canadian CEOs feel Ottawa has failed to create a business environment conducive to economic growth and development. Nevertheless, 85 percent expect their company to put in an improved financial performance in 2000, and 71 percent expect the national economy to expand. Leading the corporate pack, Nortel Networks was voted Canada's Most Respected Corporation for the first time this year by the nation's CEOs.

Up 11 points From Last Year, 58% of Canadian CEOs Feel Ottawa Has Failed to Create a Pro-Growth Business Environment

Up 11 points since the 1999 Study, 58 percent of Canadian CEOs disagree that "the federal government has created a business environment conducive to economic growth and development" - 21 percent strongly so. Four-in-ten (41%) agree with this statement, although it should be noted that just 4 percent strongly agree.

Nevertheless, CEOs Expect Better Performance from Their Corporation (85%) and the National Economy (71%) in 2000

Up 10 points since last year, 85 percent of Canada's CEOs expect their company to financially perform better than last year in 2000, and 13 percent expect their company's financial performance to remain the same. Notably, just 1 percent expect their corporation to underperform - a 10-point drop from 1999.

Seven-in-ten (71%) CEOs expect the national economy to expand in 2000 and a quarter (27%) expect it to stay about the same. Just 1 percent expect it to contract.

And Six-in-Ten (63%) Canadian CEOs Expect to Expand Their Workforce

Six-in-ten (63%) Canadian CEOs expect their workforce to expand over the next two years and a quarter (27%) expect it to remain unchanged in size, whereas just 10 percent think their company's workforce will be downsized.

To view the complete media release please download the PDF file.

John Wright
Senior Vice President
Angus Reid Group
(416) 324-2900