Small business confidence increases in B.C., decreases nation-wide in November
Small and medium-sized businesses in British Columbia grew more optimistic in November, according to Canadian Federation of Independent Business (CFIB) data released this morning.
The Business Barometer index for B.C. was 67.1. This represents an increase of those who expect their businesses' performance to be stronger in the next year when compared with 64.7 in October and 59.0 in September.
Nationwide, however, confidence fell from 65.6 in October to 62.9.
"Much of the decline in the overall average can be explained by unusually low confidence in natural resources, manufacturing and business services," said Ted Mallett, CFIB's chief economist and vice-president.
Mallett noted that although the index fell in November, the levels observed are still above those from the previous quarter (June through September), which he said suggests Canada's economy continues to grow at a "modest pace."
The most optimistic provinces, aside from B.C., are Alberta (68.3) and Saskatchewan (66.4).
The least optimistic province is Prince Edward Island, with an index level of 52.1.