September 2023 Business Barometer - Canadian Federation of Independent Business (CFIB)

September 28, 2023

Small business optimism in Canada
CFIB’s Business Barometer® long-term index, which is based on 12-month forward expectations for business performance, plummeted six points to 48.7, the lowest reading since the pandemic. The short-term optimism index, based on a 3-month outlook, lost two points, and settled at 45.5, also the lowest point for this indicator in 2023.

Provincial picture
Overall, long term optimism in most provinces tumbled a few points. BC and NL were the exceptions to this trend—their indexes gained over two points in each province. Confidence in Central Canada is at the bottom of the scale with levels of 49.8 in Quebec and 48.9 in Ontario. Moreover, short term confidence in both dove to levels below all other provinces (Quebec 47.6 and Ontario 43.9).

Inflation indicators
Average price and wage increase plans for the next 12 months registered a small uptick in September, sitting at 3.2% and 2.6%, respectively.

This is an excerpt from the CFIB’s September Monthly Business Barometer.

Topic(s)

International Trade and Border Management

Information source

Industry Publication

Disclaimer

The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.

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