A news release notes that 56 per cent of owners in the province say their businesses are in good shape, an improvement from recent months. Short-term hiring plans remain less robust though, with only 20 per cent expecting to hire full-timers in the next few months and 17 expecting to cut back on numbers.
Across Canada, small and mid-sized business owners are feeling more upbeat in August. CFIB’s Business Barometer Index has gained more than two points over top of July’s sluggish performance, closing off the month at 65.5 — its third-best reading so far this year after April and May.
While business owners in Newfoundland and Labrador remain the country's most optimistic, maintaining an index level above 72, Albertans are close behind, about a point behind.
British Columbia faded slightly, but its index remains above the 70 mark for the 11th straight month.
Sentiment in Ontario and Saskatchewan rebounded slightly to near 65, just under the national average. Optimism improved in New Brunswick to near 63, while in Manitoba, the index fell back to that level. Not much change in sentiment was noted in Nova Scotia or Quebec, with their index levels remaining under 61. Prince Edward Island once again has Canada’s least optimistic businesses, with its index sinking to 56.5.
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 70 means the economy is growing at its potential.
Findings are statistically accurate to +/- 3.2 per cent 19 times in 20.