SmallBusinessNewz

Small business confidence fell in Canada for the third consecutive month in August, according to a new report by the Canadian Federation of Independent Business (CFIB).

Uncertain market conditions pushed CFIB's Business Barometer Index to 64.9 last month, down from 65.7 in July, and well below 2010's March peak of 69.9. The current Barometer reading suggests the economy is only growing at a modest 2 per cent clip.

Measured on a scale between 0 and 100, an index level above 50 means owners expecting their business' performance to be stronger in the next year outnumber those expecting weaker performance.  According to past results, index levels normally range between 65 and 75 when the economy is growing.

Business optimism fell in 7 of 10 provinces, but it was mainly weaker sentiment among firms in western Canada that drove the national index lower. A nearly five point decline in BC, coupled with one-to-three point reductions in the Barometer indexes in Alberta, Manitoba and Saskatchewan drove the region to below the national average.

Shifts in optimism were mixed in Atlantic Canada, rising in Nova Scotia but falling elsewhere in the region. Against the trend, business owners in Ontario and especially Quebec recorded improving sentiment in August.