The Canadian Federation of Independent Business’s latest Business Barometer Long-term index hit an all-time low of 25 points since launching it in 2000.

The index is geared to determine how optimistic Canadian businesses are feeling about their future prospects and success.

Andreea Bourgeois, Director of Economics for the CFIB, emphasized how bleak the current outlook is across the country.

"It is worse then it has been after the September 11th attack, during the recession of 2008/2009 at that point, it was around 39 or 40 and that seems really low. It is lower than it has been during the financial crisis in 2015 and it’s even lower then it was during the Pandemic.”

Bourgeois attributed the pessimism business owners are feeling to the trade wars and the uncertainty with the federal government, especially in light of the upcoming election.

She added this will impact business investment and plans for expansion, as well as freeze hiring and potentially reduce the workforce through lay offs.

Until this month, the Index has never been lower than 36 points and has seen its highest point around the mid-70s mark.

Hear more from Bourgeois about the index on Thompson Today this afternoon at 12:40 and 5:10.