'No summer lift for business confidence,' says separate report

Canada’s small business owners are feeling a bit better about the future, but not by much, according to a survey from the Canadian Federation of Independent Business (CFIB).

The July report shows the long-term confidence index at 50.9—just above the breakeven mark of 50, and still below the historical average seen before June 2022.

“The economy is stabilizing in some ways, and the direction we’re heading in is more encouraging. We’re not in the worst spot compared to previous months, but there’s still not a lot of optimism out there,” said Simon Gaudreault, CFIB’s chief economist and vice-president of research.

Measured on a scale between 0 and 100, an index above 50 means owners expecting their business’s performance to be weaker over the next three or 12 months outnumber those expecting stronger performance.

Business confidence stagnant

Business confidence among Canadian companies is still stuck in a rut, according to the latest numbers from the Conference Board of Canada. The group’s Index of Business Confidence slipped another 1.5 points to 63 this quarter—its lowest point outside of the pandemic era.

The survey, which ran from late June to mid-July, mostly wrapped up before U.S. President Donald Trump’s July 10 announcement about a possible 35 per cent tariff on Canadian goods.

“The drop in confidence was largely driven by a 5.0-percentage point increase in firms operating below optimal capacity and a...

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