Canada’s CFIB Business Barometer long-term index, measuring 12-month business expectations, fell to 47.9 in September 2026 from 57.7 in August, the lowest levels in three months. Short-term optimism, based on the three-month outlook, also declined sharply to 43.3 from 53, with confidence deteriorating all sectors, although sentiment improved in information, arts and recreation. Long-term sentiment also broadly declined, excluding insurance and real estate and professional businesses. Meanwhile, firms’ average planned price increases jumped significantly to 3.3%, while expected wage growth remained largely unchanged at 2.4%. Hiring intentions remained weak, with more firms planning to lay off (16%) than hire (13%). Weak demand remained the most frequently cited constraint, affecting nearly half of businesses, while higher fuel, tax, insurance and wage costs continued to pressure operating expenses.