Canadian business confidence dips for fourth month, now at three-year low
By The Canadian Press | The Canadian Press – 3 hours ago
" OTTAWA - A new survey suggests confidence among Canada's small and medium-sized business owners is at a three year low after dropping for the fourth consecutive month.
The Canadian Federation of Independent Business says confidence in economic conditions among its members dropped 1.2 per cent nationally in July to 60.9.
The last time it was lower was in July of 2009, when it stood at 58.6.
CFIB chief economist Ted Mallett says the index’s current position in relation to gross domestic product puts it very close to the zero-growth mark, suggesting Canada’s economy is nearing a standstill.
Based on past results, the CFIB says index levels normally range between 65 and 75 when the economy is growing."