CFIB’s Business Barometer Hits Five-Year High

Canadian small business owners may literally be whistling while they work.  The Canadian Federation of Independent Business has reported that its Business Barometer Index, which is a measure of optimism, reached its highest level in five years this March.

Ted Mallett, the CFIB’s vice president of research and chief economist, stated in an online post, "CFIB’s Business Barometer Index rose for the third consecutive month in March, reaching 69.9 . . ."

And in case that doesn’t sound good (the highest possible score is indeed 100.0), Mallet then explained, "This level of optimism is consistent with a healthy sustained economic growth rate of about 4 per cent, which suggests Canada’s strong economic rebound to date will continue."

So at least on a temporary basis (we don’t want to jump the gun), Canadian small businesses may have finished recovering from the recession, which is great news.  It even seems that they’re poised to do more than break even, with these numbers hinting at impressive profits.

Keep your fingers crossed that everyone’s expectations are met.  Heck, let’s hope the red and blue lines on the CFIB’s graph continue to angle upward while we’re at it.