Released: 2022-08-24
Canadian corporations’ net income before taxes, seasonally adjusted
$151.7 billion
Second quarter 2022
Rising commodity prices kept contributing to the high inflation level recorded in the second quarter, which led the Bank of Canada to increase its policy rate by 100 basis points to cool-off inflation. These macroeconomic events impacted the operations of the Canadian corporate sector during the second quarter.
Amid this backdrop, Canadian corporations reported a quarterly increase of 6.5% in net income before taxes (NIBT) in the second quarter. The non-financial sector drove the gain, recording a growth of 10.2% in NIBT.
Consult the “Quarterly Survey of Financial Statistics: Visualization Tool” for a comprehensive overview of the quarterly changes in the financial performance of enterprises.
