CIBC World Markets came out with a report on the unusually low rate of corporate bankruptcies in Canada compared to the U.S. Normally Canadian corporate bankruptcy rates rise and fall in concert with personal bankruptcy rates and with corresponding corporate and personal rates in the U.S. But Canadian corporate rates have fallen while the three other rates have risen.

Some commentators attribute the low volume of business bankruptcies in Canada to greater layoffs forestalling bankruptcy, but that is not the view of CEOs and business leaders on the COMPAS panel.

By an immense margin, panelists believe that the Canadian economy is inherently stronger than the American. By an even larger margin, panelists attribute American weakness relative to Canada to greater pressure on U.S. banks to make nonperforming housing loans.

These are the key findings from this past week’s Internet survey of CEOs and business leaders on the COMPAS panel. The weekly business survey is undertaken for Canadian Business magazine under sponsorship of BDO Dunwoody LLP.

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