Canada’s CFIB Business Barometer long-term optimism index increased to 56.4 in May of 2023, the highest since June last year from 55.7 in April. Overall, optimism is improving in most sectors although a few including transportation and natural resources saw a decline. Meanwhile, labour shortages and their side effects are still one of the biggest headaches for small businesses. Only 22% of SMEs are planning to hire while 12% are planning to lay off. Average wage increase plans have seen a small decrease to 3.2 from April level of 3.3. source: CFIB - Canadian Federation of Independent Business
Small Business Sentiment in Canada averaged 61.43 points from 2000 until 2023, reaching an all time high of 74.07 points in April of 2002 and a record low of 30.84 points in March of 2020. This page provides - Canada CFIB Business Barometer Index- actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada CFIB Business Barometer - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.
Small Business Sentiment in Canada is expected to be 50.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada CFIB Business Barometer is projected to trend around 55.00 points in 2024 and 60.00 points in 2025, according to our econometric models.