Business sentiment among small and medium-sized enterprises (SMEs) improved nationally in August, according to the Canadian Federation of Independent Business’s (CFIB) Business Barometer.
The long-term, 12-month index rose 1.3 points to 56.8, while the short-term, three-month index advanced 4.7 points to 51.8—both above the neutral benchmark of 50 points. The long-term index reached its highest level in two years, but is still five points shy of the historical average. The general state of business health reported by most SMEs was “satisfactory,” as factors such as insufficient domestic and foreign demand and labour shortages weighed on sales growth. Optimism about business conditions was strongest in the arts and recreation sector, while agriculture, retail and construction sectors........