TORONTO, Sept. 2 /CNW/ - The Canadian economy is making a turn towards
recovery according to the latest business confidence survey findings from the
Canadian Federation of Independent Business (CFIB). After mediocre results in
June and July, the Business Barometer(R) index climbed to 65.4, its highest
level in two years.
"These results demonstrate an overall improvement across industries and
regions, suggesting that the economy is finally making its first tentative
steps toward recovery," explained Ted Mallett, CFIB's vice-president of
research and chief economist. "Thanks in large part to a return of confidence
in Ontario and Quebec, optimism is firming up throughout the economy."
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. To view
the Business Barometer Index and GDP chart visit:
The outcomes have also been broken down by province and industry, for
these results or to view the full report visit www.cfib.ca/research/barometer/
The August 2009 findings are based on 998 responses, collected from a
stratified random sample of CFIB members, to a controlled-access web survey.
Data are statistically accurate to +/- 3.1 per cent 19 times in 20.
Business Barometer is a monthly publication of the Canadian Federation of
Independent Business and is a registered trademark.
For further information:
For further information: or to arrange an interview with Ted Mallett,
contact Meghan Carrington or Adam Miller at (416) 222-8022