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CANADIAN BUSINESSES EXPECTING HIGHER PROIFITS

Canadian business confidence rose in the third quarter, with 62 percent of 2,000 companies surveyed by the Conference Board of Canada saying they expected profits to increase in the next six months.

The Ottawa-based research group's confidence index increased to 151.4 from 145.6 in the April-June period. Some 93 percent of company officials said the economy would perform at least as well over the next six months as it was when they were surveyed over the last two weeks of September.

The results reinforce Bank of Canada Governor David Dodge's view that Canadian companies, buoyed by stronger global demand and low interest rates, will boost investment and help power economic growth through 2006.

Bloomberg News

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