Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The share of small Canadian firms saying their business was in good shape pulled level with those seeing bad conditions in August for first time since the pandemic lock-down took hold in March.
Some 27% of firms answered positively versus 26% who said things were in bad shape, the Canadian Federation of Independent Business said Thursday. Over much of the last decade there was a positive balance of opinion that often stretched to around 30 percentage points.
"What 'good performance' means has changed for small business owners. Many may see just being here in 12 months as success," CFIB chief economist Ted Mallett noted in the report. "Key performance indicators point to a sluggish but steady recovery, but capacity utilization remains low, particularly in the hospitality and arts and recreation sectors."
The overall CFIB Business Barometer slipped 2.1 points to 59.2 in August. It was a record low of 30.8 in late March, and a reading of 65 is more consistent with an economy at potential.
The share of firms planning to reduce full-time staff in the next three months fell to 25% in August, from 30% in July and 63% in late April.
Significantly for the Bank of Canada, the polling showed firms plan price increases quickening to 2%, the central bank's target, and well above the current CPI of 0.1%. Pricing plans slipped to 1% in April.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.