Canadian small business owners' confidence fell in the month of November after making gains in months prior, according to the latest Canadian Federation of Independent Business index.
The CFIB's Business Barometer index fell to a score of 64.0 in November, down from 66.9 in October, showing that optimism from previous months has slowed. The group's vice president and chief economist, Ted Mallett said that entrepreneurs were curbing their profit expectations but many were still looking forward to having a successful end of the year.
"These indications suggest retailers are preparing for only modest growth over last year," explained Mallett. "Consumer spending is not likely to be robust, and seasonal inventory levels have been set accordingly."
The most confident business owners in the country were found in Alberta, which reported an index level higher than 75 for the first time since 2007. Provinces including Quebec, Manitoba and Ontario all reported levels around 68, a higher than average score.
