Accountants in senior corporate positions are less optimistic than last quarter about the prospects for the Canadian economy over the next 12 months, according to the CPA Canada Business Monitor.

Read: Help clients adopt long-term outlooks

Almost half (48%) of those surveyed for the third quarter report are optimistic about the Canadian economy, down from 56% in Q2. However, just 7% of the respondents are pessimistic in this latest survey, with the rest neutral.

Looking at their own operations, 62% like the prospects for their company over the next 12 months, compared with 66% in the previous quarter.

“A dip in optimism is not surprising especially when you consider factors such as oil prices and global economic uncertainty along with conflict and unrest in certain regions,” explains Kevin Dancey, president and CEO, Chartered Professional Accountants of Canada (CPA Canada).

In fact, the drop in optimism about the Canadian economy is the first in 2014. Even with the dip, it remains much higher than the same quarter last year, when only 37% of the respondents expressed optimism.

Dancey says encouraging economic indicators south of the border are likely contributing to this but, he adds, it remains to be seen how much the positive U.S. signals are offset by other developments globally.

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