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CFIB Survey Shows Notable Disinflationary Progress In August

  • Released earlier today, the CFIBC small business barometer saw a modest improvement to 54.8 in August from an upward revised 54.4 (initial 54.2).
  • The details did however show a notable further disinflationary step: year-ahead price plans slowed from 3.3% to 3.0% for the lowest since Mar’21, whilst year-ahead wage plans slowed to 2.5% after two months at 2.9% and averaging 3.1% since Aug’22. It’s the lowest since Oct’21.
  • Further within the labour details, there was no improvement in the share seeing skilled labour as an impediment to sales/production but there was a large drop in un/semi-skilled shortages, from 37% to 26% for its lowest since May’21.

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