Small business confidence slipped in September
The national index hasn't been this low since April 2020
By Rob Roach, ATB Economics 3 October 2023 less than a minute
With higher borrowing costs weighing on the economy and skilled labour shortages topping the list of the things holding them back, the latest Business Barometer® published by the Canadian Federation of Independent Business (CFIB) shows that both long-term and short-term small business confidence fell in September.
The long-term optimism index* is based on how businesses expect to be performing in 12 months while the short-term optimism index is based on a 3-month outlook.*
The long-term index for Alberta declined 4.6 points to 54.8 in September, its lowest reading since March 2023.
Nationally, the long-term index shed 6.0 points to land at 48.7 in September—its lowest level since April 2020.
The short-term index, meanwhile, went from 50.5 to 48.6 in Alberta, and retreated 2.2 points to 45.5 nationally.
*Measured on a scale between 0 and 100, an index above 50 means owners expecting their business’s performance to be stronger outnumber those expecting weaker performance.
Answer to the previous trivia question: Five percent of the Canadian population identified as Indigenous in the 2021 Census.
Today’s trivia question: In what year was the CFIB officially founded?