Two barometers of business confidence produced mixed results Wednesday.
The Conference Board of Canada said its survey of business confidence rose for the second consecutive quarter.
The Conference Board of Canada said its survey of business confidence rose for the second quarter.
(Canadian Press) The Ottawa think-tank surveyed business leaders between Sept. 14 and Oct. 22 and found 63 per cent of them believed their financial position would improve in the next six months. Its index, set at 100 in 2002, now stands at 97.8, a gain of 16 points over the summer quarter to a level not seen since the recession began.
At the same time, a survey by the Canadian Federation of Independent Business indicated a slippage in the confidence of small and mid-sized firms in October. After strong gains in the late summer, its index slipped to 67.0, from 68.7 in September.
The monthly change was within the survey's margin of error, and the CFIB said this level "still suggests the recovery is progressing."
The CFIB index is measured on a scale between 0 and 100, with a reading above 50 meaning that owners who expect their businesses to perform better in the next year outnumber those expecting further weakness. Index levels typically range between 65 and 75 when the economy is growing.
The survey, based on 1,062 responses from CFIB members, claims a 95 per cent likelihood of being accurate within three points.
