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CFIB Optimism Increases But No Labor Market Progress

CANADA DATA
  • CFIB small business optimism increased for the seventh consecutive month from 55.7 to 56.4 for its highest since June.
  • This 12-month ahead measure remains 5pts below the historical average vs 2pts below for the 3-month ahead measure.
  • Notably with the BoC so keenly watching wage growth, year-ahead wage plans saw minimal progress, only dipping a tenth to 3.2% and close to their average since last April. This lack of progress was reiterated by shortage of skilled and un/semi-skilled remaining the main impediments of sales or production growth, far above historical averages.

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