What Does Business Confidence Mean?

By QuickBooks Canada Team

0 min read

Business confidence is an economic indicator that measures the amount of optimism or pessimism that business leaders feel about the prospects of their companies. In Canada, the Index of Business Confidence is compiled by the Conference Board of Canada. To come up with the Index of Business Confidence, the Conference Board surveys chief executive officers and chief financial officers of Canadian businesses on a quarterly basis. The Conference Board has been collecting business confidence data since 1977.

Business confidence is important because when businesses are more confident, they are more likely to spend money to grow their business, and as they spend money, it trickles through the economy.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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