Business Barometer® - National small business confidence perks upward

TORONTO, Nov. 3 /CNW/ - After a steady drift downward through the spring and summer, optimism among Canada's small- and medium-sized business owners took a positive turn in October. CFIB's Business Barometer® index rose to 66.9 in its latest reading, more than three points higher than September and its highest level since May.

"While this index level is still modest compared to pre-recession readings, it suggests a firming up of business owners' expectations," explained CFIB vice-president and chief economist, Ted Mallett. "Not many small- and medium-sized businesses are expecting high growth in the coming year, but even fewer are expecting significant declines"

The improvement in optimism was strongest in British Columbia, Alberta and Nova Scotia. Conversely, business owners in Quebec are somewhat less optimistic than they had been in September. Business owners in Manitoba and Prince Edward Island are the least optimistic.

"Taking into account the new readings, optimism appears to book-end the country, with higher-than-average levels in the far west and the Atlantic regions," Mallett said.

This index is available provincially and by industry. Results and the full report are available at: http://www.cfib-fcei.ca/english/barometer and www.cfib-fcei.ca/cfib-documents/Canada-BarometerHistory.xls

Measured on a scale between 0 and 100,  an index level above 50 means owners expecting their businesses' performance to be stronger in the next year outnumber those expecting weaker performance. According to past results, index levels normally range between 65 and 75 when the economy is growing.  The September 2010 findings are based on 835 responses, collected from a stratified random sample of CFIB members, to a controlled-access web survey. Findings are statistically accurate to +/- 3.4 per cent 19 times in 20.

Business Barometer is a monthly publication of the Canadian Federation of Independent Business and is a registered trademark. 

As Canada's largest association of small- and medium-sized businesses, CFIB is Powered by Entrepreneurs™. Established in 1971, CFIB takes direction from more than 107,000 members in every sector nationwide, giving independent business a strong and influential voice at all levels of government and helping to grow the economy.

For further information:

For more information or to arrange an interview with Ted Mallett, contact Meghan Carrington or Adam Miller at 416 222-8022 or email[email protected]