Alberta business confidence appears on rise
After declining in recent months, business confidence in Alberta appeared to rebound in August, based on the latest survey by the Canadian Federation of Independent Business.
The CFIB calculated the level of optimism among small and medium-sized enterprises in the province at 69.5 out of an index of 100 in August. That marked a 2.7 point improvement over July.
“Thankfully, the downward drift we’ve seen over the past couple of months has reversed,” said Richard Truscott, CFIB director for Alberta.
Alberta’s score was the third highest in Canada, trailing Saskatchewan at 70.7 and Newfoundland at 70.4. Trailing Alberta were Ontario (67.8), British Columbia (66.3), Quebec (59), New Brunswick (58.5), Nova Scotia (58), Manitoba (57.6) and Prince Edward Island (50). The national average was 65.9.
“There’s plenty of good economic news in these latest numbers,” said Truscott. “For starters, Alberta’s small businesses continue to maintain above-average optimism relative to entrepreneurs in the rest of the country.”
A shortage of qualified labour was identified as the biggest constraint facing independent business in Alberta.
CFIB said that index levels normally range between 65 and 75 when the economy is growing at its potential.