The Financial Post reports in its Tuesday edition that despite increasing expectations that interest rates have peaked, many Canadian businesses experienced weakened growth in the fourth quarter and the impacts of higher rates and inflation, according to the Bank of Canada's latest business outlook survey. The Post's Barbara Shecter writes that the report says: "More than one third of respondents experienced an outright decline in sales over the past 12 months. ... High interest rates have negatively impacted a majority of firms, and these firms have relatively muted sales outlooks, modest investment intentions and weak hiring plans." There is also concern that upcoming mortgage renewals will further reduce people's disposable income. Growth was especially muted in construction and real estate, with these firms saying some projects had been put on hold over the past 12 months due to high interest rates causing demand to decline and financing costs to rise, along with high construction costs and general economic uncertainty. Still, there are some signs of optimism, with many firms expecting sales to improve over the course of 2024 if interest rates come down and sales volumes stabilize after declines or weak growth.