Confidence of P.E.I. business takes a dip in September: CFIB

After the previous quarter’s strong optimism, businesses in P.E.I. have seen a significant decrease in confidence, according to the Canadian Federation of Independent Business’ (CFIB) monthly barometer.

The P.E.I. index dropped to 63, although it still remains several points above the national index.

The negative shift seen in September is widespread. Nationally, the index dropped another three points to land at 56.9 - its fourth consecutive monthly decline - with declines registered in all 10 provinces and 11 of 13 industry sectors.

Business owners in Quebec remain the most optimistic, with a relatively healthy index of 70.9. Owners in the Maritimes are also somewhat more optimistic than the national average. The mood is notably more subdued in the rest of the country, with Saskatchewan and Newfoundland and Labrador indexes at 50.9 and 52 respectively and Ontario not that much better at 55. Manitoba and Alberta index levels are under the 58 mark, while B.C.’s dropped below 60 for the first time since 2012.

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. An index level of between 65 and 70 means the economy is growing at

September 2017 findings are based on 810 responses, collected from a stratified random sample of CFIB members, to a controlled-access web survey. Data reflect responses received through Sept. 18. Findings are statistically accurate to +/- 3.4 per cent 19 times in 20. its potential.