Published on 05/08/2022 at 2:30 p.m
The short-term SME confidence index — for the next three months — fell 7.7 points in July, according to the Canadian Federation of Independent Business Barometers.
Long term – next year – the outlook is down 6.7 points. This is the fourth straight month that the index has fallen in both the short and long term.
All other indicators of SME health are also showing signs of slowing down. In other words, only 32% of SME managers say they are satisfied with their business results. Labor shortages are the main constraint on business growth for both skilled (52%) and unskilled (39%) workers.
Long- and short-term, the provinces of Ontario and Newfoundland and Labrador have the weakest results nationally. Quebec business confidence fell 1.5 points in the short term and 0.8 points in the long term. Saskatchewan is the only province to see an improvement, albeit marginally.
According to both indices, the accommodation and gastronomy sector is the most optimistic, even if its confidence has dropped significantly in the past month. Retail and agriculture are the least confident.
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