Confidence index climbs to 61.5 in October, likely in part thanks to good news on trade deal to replace NAFTA
VANCOUVER, October 25, 2018 – Optimism among British Columbia’s entrepreneurs increased 5.6 points, reaching an index of 61.5 according to the Canadian Federation of Independent Business (CFIB) monthly Business Barometer results. The provincial Barometer index is now performing above the Canadian average (60.5) by a point.
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. An index level of between 65 and 75 means that the economy is growing at its potential.
To view the full report, please visit http://www.cfib.ca/barometer
“It is encouraging to see small business confidence reach a healthier level in October,” said Muriel Protzer, Policy Analyst, BC and Alberta. “No doubt some of the rising optimism is due to the good news that Canada was able to secure a new trade deal with the U.S. and Mexico. Sustaining this level of entrepreneurial confidence will be the challenge for all levels of government,” added Protzer.
The provincial numbers for October were: PEI (70.8), Quebec (66.2), Ontario (64.2), New Brunswick (62.3), Manitoba (62.2), British Columbia (61.5), Nova Scotia (60.7), Newfoundland and Labrador (53.8), Saskatchewan (53.2), and Alberta (53.1).
October 2018 findings are based on 655 responses, collected from a stratified random sample of CFIB members to a controlled-access web survey. Data reflect responses received through October 15. Findings are statistically accurate to +/- 3.8 per cent 19 times in 20.
To arrange an interview with Muriel Protzer about the BC results, please call 604-684-5325 or email [email protected] after 8:30 AM PT. To interview Chief Economist, Ted Mallett, about the national results, please call 416-222-8022. For more information, visit cfib.ca.
CFIB is Canada’s largest association of small- and medium-sized businesses with 109,000 members across every sector and region, including 10,000 in B.C.