P.E.I. businesses are the country's most confident, says CFIB

P.E.I. leads the country this month when it comes to business confidence, according to a report by the Canadian Federation of Independent Business.

The federation issues what it calls a business barometer index, measuring how optimistic business owners are feeling.

"Here, not being dependent on resource revenues has really kind of been a boon for us as a province," said Erin McGrath-Gaudet, director of CFIB for P.E.I.

"We're not having those same struggles and challenges [as other provinces]. And the low Canadian dollar and low oil prices continue to be a bigger boost for P.E.I., because we are really heavily dependent on those two factors."

Highest mark since end of recession

The federation calls P.E.I.'s business owners "the most upbeat in the country."

On the business barometer index, a mark above 50 means the number of businesses in an area expecting a strong yearly performance outnumberthose expecting a weaker performance.

An index between 65 and 70 shows that the area's economy is meeting its potential.

The index on P.E.I is currently at 75, the highest mark since the end of the recession in 2009.

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