CFIB's Business Barometer® Index virtually unchanged
TORONTO, April 6 /CNW/ - Small business optimism is holding steady,
maintaining the upbeat mood we have seen in the country since last
December. CFIB's Business Barometer® Index was 69.2 in March, virtually
unchanged from February's 69.4 level.
"It should be noted however, that the majority of responses to the
monthly survey were logged early in the month—before the earthquake and
tsunami in Japan roiled international markets and before the election
call in this country," stated CFIB vice-president and chief economist,
Ted Mallett. "Elections don't normally have much impact on business
optimism, and the initial market reactions to conditions in Japan have
since seen at least a partial correction. But there is no doubt
businesses are currently dealing with more uncertainty and
interruptions to trade."
Business owners in the West are showing growing optimism, with
Saskatchewan, Manitoba and Alberta closely bunched at the top of the
list as most optimistic, with index scores near 75—hot economies by
recent standards. And, businesses in British Columbia and Newfoundland
& Labrador follow closely behind with index levels in the low 70s.
Quebec business owners are near the national average, while those in
Ontario now appear to be falling back at levels of 66. The rest in the
three Maritime Provinces have the lowest levels of optimism, all with
index levels barely above 62.
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 March 2011 findings are based on 766
responses, collected from a stratified random sample of CFIB members,
to a controlled-access web survey. Findings are statistically accurate
to +/- 3 per cent 19 times in 20.
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 108,000 members in every sector nationwide,
giving independent business a strong and influential voice at all
levels of government and helping to grow the economy.
SOURCE CANADIAN FEDERATION OF INDEPENDENT BUSINESS
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@example.com