MNI BRIEF: Canada Small Firm Confidence Highest in Nearly 3Y

Canadian small business confidence reached the highest since May 2018 this month on optimism about vaccine rollouts, and plans for price increases also climbed, an industry group reported Thursday.

The Canadian Federation of Independent Business Barometer rose to 62.5, the fourth straight increase, from 58.7 in January. The indicator of business conditions over the next 12 months has come back from a record low 30.8 in March.

Firms on average planned to raise prices by 2.2%, though the total figure included 36% of firms who plan to hold or cut prices, and 26% who plan increases of at least 5%.