Index of Business Confidence

Updated: December 10, 2021

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.

19 points to 85.6

Latest issue: December 2021

Investment plans derailed by supply chain concerns and labour shortages

In November, The Conference Board of Canada’s Index of Business Confidence fell and now sits at its lowest level since falling to historic lows in mid-2020. Since that time, business confidence had been steadily rising, but the results from our latest survey indicate that firms are shifting their focus from the economic recovery to concerns about the pandemic’s fallout.

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Richard Forbes

Richard Forbes


Richard Forbes has been an economist on the Conference Board’s economic forecasting team since 2016. Richard plays a key role in overseeing the Conference Board’s Industry Lens and Territorial Outlook products and contributes analysis on a wide range of sectors in the Canadian economy.

Richard holds a Bachelor of Arts Honours degree in economics from Western University, as well as a master's degree in economics from McMaster University, where he specialized in international trade and labour economics.

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