The small business sector in Alberta was feeling a little more optimistic in June.

According to the latest Business Barometer® report from the Canadian Federation of Independent Business (CFIB), the long-term optimism index for Alberta increased 3.2 points to 53.0 in June.*

Any increase in the index is welcome, but the reading was still the lowest for June since the first year of the pandemic.

Nationally, the long-term index was essentially the same, falling slightly from 56.6 in May to 56.3 in June.

The short-term index, which asks small businesses owners about the next three or four months, edged up from 49.5 in May to 50.2 in June and was above 50 for the first time since last August.

As with the long-term index, the short-term outlook hasn’t been this low in June since 2020.

The Canada-wide short-term index lost a little ground, moving down about a point from 52.5 in May to 51.6 in June.

Insufficient demand (mentioned by 48% of respondents) and a shortage of skilled labour (cited by 47% of respondents) were the top two limitations on business growth identified by Alberta small business owners in June.

*The current data reflect responses received from June 4 to 14. Measured on a scale between 0 and 100, an index above 50 means owners expecting their business’s performance to be stronger outnumber those expecting weaker performance. An index level near 65 normally indicates that the economy is growing at its potential. The long-term optimism index is based on how businesses expect to be performing in 12 months while the short-term optimism index is based on how businesses expect to be performing in 3 months.

Answer to the previous trivia question: Despite being known as the “Birthplace of Confederation,” Prince Edward Island did not join Canada as a province on July 1, 1867, but waited until July 1, 1873.

Today’s trivia question: July 2 is World UFO Day. In what year did the U.S. Air Force begin an investigation into UFOs called Project Sign?