Index of Business Confidence

Updated: November 10, 2025

Index of Business Confidence for November 2025

This marks the third consecutive survey with the Index below 70 points—a first in its history. The last time confidence exceeded 80 points was in early 2022. More concerningly, the Index continues to sit far below levels typically associated with strong economic growth. While the recent gain signals a modest improvement, short-term investment sentiment remains sour.

November 10, 2025 • 6-min read

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6.4 points to 69.4

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Our widely respected Index of Business Confidence captures the views of senior executives of private Canadian corporations. It delves into the state of their businesses’ sales and finances, their investment plans, and their expectations for the Canadian economy over the coming six months.

This quarterly index is used by the Bank of Canada as a measure of capacity and inflation pressure as it sets monetary and financial markets policy. The index also informs our in-house national economic outlook.

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Author

Jake Lenarduzzi

Economist

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