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

October 26, 2023

Small business optimism in Canada
CFIB’s Business Barometer® long-term index, which is based on 12-month forward expectations for business performance, dropped 1.5 points to 47.2, a very low reading for the indicator. The short-term optimism index, based on a 3-month outlook, lost almost five points, and reached 41.4, also a very low reading.

Provincial picture
Long term optimism in almost all provinces decreased several points in October. Confidence in the largest two jurisdictions remained at the very bottom, with levels of 46.1 in Quebec and 46.5 in Ontario. Optimism over the next three months also dropped across the country.

Inflation indicators
Average price increase plans for the next 12 months registered a decrease in October, sitting at 3.0%; while average wage plans marked a small uptick to 2.9%.

This is an excerpt from the CFIB’s October 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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