FX.co ★ Canada Business Barometer Rises in September

In September 2025, Canada's CFIB Business Barometer's long-term index increased to 50.2, marking a two-point rise from August. Notable improvements were observed in the transportation sector (+3.5 to 51.0), agriculture (+3.6 to 53.6), manufacturing (+5.1 to 49.4), retail (+1.3 to 48.7), and information, arts & recreation (+1.0 to 54.5). However, most other sectors experienced slight declines. Overall confidence remains subdued, with seven provinces scoring at or above 50. New Brunswick topped the list at 58.8, closely followed by PEI at 55.8. In contrast, Ontario (48.1), Nova Scotia (45.5), and British Columbia (45.3) remain below the 50 mark, significantly trailing their historical averages. The labor market appears soft, as 18% of businesses anticipate layoffs, while only 12% plan to hire. Expectations for price and wage increases remained stable at 2.7% and 2.2%, respectively.