Canadian businesses saw less pressure on their production capacity in the fourth quarter and were concerned about demand over the next year, according to a Bank of Canada survey released on Monday that provided more reasons for the bank to delay an interest rate increase.

Still, in the central bank’s winter business outlook survey, conducted in November and December, companies were more upbeat about sales and investments than they were in the previous quarter’s survey, even though fears about the U.S. fiscal cliff were intensifying when the fourth-quarter survey was taken.

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