Small business optimism holds steady; holiday shoppers are in the mood

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• News Release: Business Barometer® Small business optimism holds steady; holiday shoppers are in the mood

December 2011
Ted Mallett, Vice-President & Chief Economist

Small business confidence saw little change in the month of November according to CFIB's latest survey. The Business Barometer index was 63.7, virtually identical to October's 63.6 reading. This level is still lower than normal, however, as overhanging concerns about the potential spread of economic weakness out of Europe appear to be still at play. The Index has recovered 2.0 of the 6.6 points lost in August when the Euro currency and US fiscal policy crises hit world financial markets, suggesting the Canadian economy is performing at a slower pace, but has not dipped into recession. 

Measured on a scale between 0 and 100, an index level above 50 means owners expecting their business' 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.