UPDATE 1-Canadian firms’ orders fall, inflation seen easing, central bank survey shows

Canadian firms say their order books declined as interest rates crimped consumer spending, and they see inflation easing despite increased concerns over wages for the next year, the central bank said on Monday in a quarterly survey. Some 38% of businesses expect a recession over the next year, according to the survey, which was conducted by the Bank of Canada (BoC) at the end of the fourth quarter. Businesses reported a decline in their order books compared with a year earlier, and more firms expect wages to increase over the coming year than in the previous quarter.