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SONIA FIX - 24/11/22

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CFIB Sentiment Sours Further, Price Intentions Lowest Since Oct’21

CANADA
  • The CFIB small business 12-month outlook hit fresh cycle lows of 50.0 (-1.2pt) in Nov, which prior to the pandemic depths were last seen in 2009.
  • Price expectations cooled, seen rising an average 3.9% in the year ahead, the softest since Oct’21 and down from 4.2% last month and a peak of 4.9% in the spring.
  • Labour indicators were mixed with hiring intentions softening further (share expecting to increase staff lowest since January) but wage plans re-accelerating to 3.4%, back to July responses after stabilising at 3.1% and close to cycle highs of 3.6%.
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  • The CFIB small business 12-month outlook hit fresh cycle lows of 50.0 (-1.2pt) in Nov, which prior to the pandemic depths were last seen in 2009.
  • Price expectations cooled, seen rising an average 3.9% in the year ahead, the softest since Oct’21 and down from 4.2% last month and a peak of 4.9% in the spring.
  • Labour indicators were mixed with hiring intentions softening further (share expecting to increase staff lowest since January) but wage plans re-accelerating to 3.4%, back to July responses after stabilising at 3.1% and close to cycle highs of 3.6%.