Business Barometer® - Small business confidence dips again in July, now at a three-year low

TORONTO, Aug. 1, 2012 /CNW/ - Optimism among Canada's small- and medium-size businesses continued to decline in July, according to the Canadian Federation of Independent Business (CFIB). The Business Barometer® index dropped from 62.1 in June to 60.9, its lowest reading since July, 2009.

"The major difference between now and two years ago was that the index was trending in the opposite direction, towards greater confidence," said Ted Mallett, CFIB's chief economist and vice-president. "The index's current position against GDP puts it very close to the zero-growth mark, suggesting Canada's economy is nearing a standstill."