Small business confidence in British Columbia dipped in May but remains above Canada-wide levels, according to Canadian Federation of Independent Business (CFIB) data released this morning.
B.C.’s business confidence dipped three points in May to 64.9, according to the CFIB Business Barometer index.
Small business owners in this province cite insufficient domestic demand as the biggest limitation to growth, and have the highest level of concern about this issue in the country.
Nationwide, the index inched down to 62.1 in May, from 62.4 – the third consecutive monthly decline.
“It's a fairly small decline, but the index is now at its lowest point since the summer of 2012, when the economy went through a slow-motion act,” said CFIB chief economist and vice-president Ted Mallett. “Canadian small business optimism remains cool this spring.
“Manufacturing, transportation and hospitality are the weakest sectors this month, while the information and financial services sectors are above the norm.”
The most optimistic provinces in May were:
- Alberta (68.6);
- Newfoundland and Labrador (68.3); and
- Saskatchewan (65.8).
@EmmaCrawfordBIV
