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.

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Canada CFIB Business Barometer



Calendar GMT Actual Previous Consensus TEForecast
2023-04-27 11:00 AM Apr 55.7 55.3 53
2023-05-25 11:00 AM May 56.4 55.7 54
2023-06-30 11:00 AM Jun 56.4 50


Related Last Previous Unit Reference
Small Business Sentiment 56.40 55.70 points May 2023
Wholesale Sales 1.60 -0.10 percent Apr 2023

Canada CFIB Business Barometer
CFIB’s Business Barometer tracks small business confidence, expectations and operating conditions in Canada. It was revised as of the May 2009 issue. It is based on the same survey question on 12-month future business performance expectations collected annually 1987-2000, quarterly 2001-2008 and monthly since late 2008. The index is a weighted average of response scores: 100 for stronger performance, 50 for same performance, and 0 for weaker performance. The data are not seasonally adjusted.
Actual Previous Highest Lowest Dates Unit Frequency
56.40 55.70 74.07 30.84 2000 - 2023 points Monthly
NSA

News Stream
Canada Small Business Sentiment Highest since June
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.
2023-05-25
Canada Small Business Sentiment Rises for 5th Month
Canada’s CFIB Business Barometer long-term optimism index increased to a ten-month high of 55.7 in April of 2023 from 55.3 in the previous month. The index has been rising for the last five months, despite challenging global economic conditions. Most sectors have changed only a few points up or down. However, two industries showed significant signs of increased optimism such as retail (+11.8) and natural resources (+12.5). Regarding business conditions, full-time staffing plans are very moderate for this time of the year with 22% of businesses looking to hire while 14% are considering layoffs. Supply chain indicators show that some difficulties have been resolved on the supply side, but many issues remain especially on the distribution and input costs side. On the price front, average future price increasing plans remained unchanged at 3.5; while average wage increase plans have seen a small bump to 3.3 from March level of 3.0 amid increases to the minimum wage in most provinces.
2023-04-27
Canada Small Business Sentiment at 9-Month High
Canada’s CFIB Business Barometer long-term optimism index rose to a nine-month high of 55.3 in March of 2023 from an upwardly revised 51.8 in February. Most sectors have seen improvements in optimism, namely health and education, professional, wholesale and personal services. On the other hand, falls were seen in financial services, natural resources and retail. Meanwhile, full-time staffing plans have seen the seasonal uptick in the share of businesses looking to hire (25%) similar to the same time in the previous year. Supply chain indicators remained constant in March and borrowing costs and product input costs remain the top cost constraints. At the same time, average future price increasing plans saw a softening to 3.5 while average wage increase plans decreased to 3.1.
2023-03-30