Small business optimism climbs incrementally

2 November 2011

Canada Newswire

Confidence among Canada's small and mid-sized business owners climbed slightly in October. The Canadian Federation of Independent Business (CFIB)'s Business Barometer for the month measured in at a modest 63.6, almost a point above September's 62.7 and marginally higher than the 61.7 level posted in August when the latest round of sovereign debt and banking sector worries from Europe started sweeping around the world. "Judging from past history, index levels in the low 60s are still associated with economic growth in Canada, but only just," said Ted Mallett, vice-president and chief economist for CFIB. "Performance may not be stellar, but at least this latest data suggest economic growth has not turned negative."