Canadian Small Businesses Confidence on the Rise

One day after the Bank of Canada boosted the overnight lending rate to 0.5 percent from 0.25 percent, a survey assessing the mood of small businesses shows increasing confidence. The index, published by the Canadian Federation of Independent Business (CFIB), rose to 67.3 for the month, about a point above its previous level.

An index level above 50 means owners expecting stronger business performance in the next year outnumber those expecting weaker performance. Index levels normally range between 65 and 75 when the economy is growing, according to past results.

Source: Reuters

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