Small business confidence in Alberta wavered slightly in June
After rising for four months in a row, the CFIB's long-term index for Alberta pulled back slightly, going from 57.2 in May to 56.5 in June
By Rob Roach, ATB Economics 4 July 2023 1 min read
Based on a survey of its members, the Canadian Federation of Independent Business (CFIB) produces an index of small business confidence called the Business Barometer®.
The barometer’s long-term optimism index* is based on how businesses expect to be performing in 12 months while its short-term optimism index is based on a 3-month outlook.*
After rising for four months in a row, the long-term index for Alberta pulled back slightly, going from 57.2 in May to 56.5 in June.
The short-term index was basically unchanged, falling a tenth of a percentage point to 54.9.
Nationally, the long-term index fell 2.1 points from 56.2 in May to 54.1 in June while the short-term index shed 5 points, going from 53.7 to 48.7.
Notwithstanding large variations in optimism levels across industries, Alberta’s small business sector as a whole is feeling less confident about the coming months than it did at this time last year.
A shortage of labour and rising wage costs topped the list of factors causing problems for small businesses in Canada.
*Measured on a scale between 0 and 100, an index above 50 means owners expecting their business’s performance to be stronger in the next year outnumber those expecting weaker performance. An index level near 65 normally indicates that the economy is growing at its potential.
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