CFIB report shows Alberta’s struggle affecting Canada as a whole
Posted Jan 28, 2016 7:04 am.
Last Updated Jan 28, 2016 7:14 am.
This article is more than 5 years old.
The Canadian economy is continuing to feel the harsh impact of low oil prices and a free falling dollar.
That’s the finding of a report by the Canadian Federation of Independent Business which shows the business barometer dropped some 10 points below the level associated with normal economic growth.
Chief Economist Ted Mallett says the country is still caught in the throes of the fallout from the flailing resources sector that’s been sending Alberta spiralling downward and dragging the rest of Canada with it.
He says business confidence in Alberta hit another record low in January.
Aside from the bad news CFIB says sectors which are strong are professional services, information and arts, and hospitality.
Mallett says the lone positive is that the general state of business health is in line with past results.
