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Canadian small businesses hit an all-time low in confidence due to the escalating trade war with the U.S.
Small business confidence in Canada hit an all-time low in March as the trade war with the U.S. intensified.
The Canadian Federation of Independent Business (CFIB) reported its business barometer index fell by 24.8 points to 25.0.
This pessimism is leading to lower hiring plans, with 19% of small firms planning layoffs compared to 13% in February, while only 11% plan to hire.
The report, based on 1,065 responses, highlights concerns about worsening conditions due to the uncertain end to the trade conflict.
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Las pequeñas empresas canadienses alcanzaron un nivel bajo de confianza debido a la escalada de la guerra comercial con Estados Unidos.