Index of Business Confidence

Business Confidence Declines for the Fifth Consecutive Quarter

Updated: November 10, 2022

The last time the index experienced five consecutive declines was during the 2007–08 financial crisis.

Our latest survey indicates that firms continue to have concerns about the coming six months regarding the rising cost of labour and capital, a shortage of qualified staff, interest rate hikes, and, more recently, weak market demand.

1.3 points to 77.8
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Sasan Fouladirad


Sasan Fouladirad


Sasan Fouladirad has been an economist on the Conference Board’s economic forecasting team since 2020. Sasan is primarily responsible for forecasting and providing analysis on the Canadian financial industry.

Sasan holds a Bachelor of Arts degree in economics from The University of British Columbia, as well as a master's degree in economics from Queen’s University, where he specialized in econometrics and economic history.

About the IBC

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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