Alberta businesses anxious about the year ahead
The long-term business confidence index in Alberta has been in a downward trend since the spring
By Rob Roach, ATB Economics 28 November 2022 1 min read
Business confidence in Alberta is down 10 points from where it was this time last year and by 15 points compared to where things stood in the spring.
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 index* is based on how businesses expect to be performing in 12 months.
In Alberta, the long-term index has been in a downward trend since the spring. The index was sitting at 65.2 in May, but has fallen to 50.0 as of November.
The national index was also down, falling from its recent peak of 65.2 in March to 50.0 in November.
According to the CFIB, an index level near 65 normally indicates that the economy is growing at its potential.
*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.
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