September 2, 2009 – Toronto – The Canadian economy is making a turn towards recovery according to the latest business confidence survey findings from the Canadian Federation of Independent Business (CFIB). After mediocre results in June and July, the Business Barometer® index climbed to 65.4, its highest level in two years.
“These results demonstrate an overall improvement across industries and regions, suggesting that the economy is finally making its first tentative steps toward recovery,” explained Ted Mallett, CFIB�s vice-president of research and chief economist. “Thanks in large part to a return of confidence in Ontario and Quebec, optimism is firming up throughout the economy.”
CFIB Business Barometer® Index and GDP
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. According to past results, index levels normally range between 65 and 75 when the economy is growing. The outcomes have also been broken down by province and industry, for these results or to view the full report visit www.cfib.ca/research/barometer/default.asp.
The August 2009 findings are based on 998 responses, collected from a stratified random sample of CFIB members, to a controlled-access web survey. Data are statistically accurate to +/- 3.1 per cent 19 times in 20.
Business Barometer is a monthly publication of the Canadian Federation of Independent Business and is a registered trademark.
CFIB is Canada’s largest association of small- and medium-sized businesses. Encouraging the development of good public policy at the federal, provincial and municipal levels, CFIB represents more than 105,000 business owners, who collectively employ 1.25 million Canadians and account for $75 billion in GDP. www.cfib.ca