ATB Financial has released its latest Business Beat survey. In it, it shows Alberta’s businesses are starting to feel the impact of lower oil prices, as well as a sinking loonie. In the last quarter, the bank’s Economy Index shows optimism for small and medium-sized businesses shrunk to 44.5m the lowest index score on record. ATB says the data released shows among those who responded, economic optimism fell 28 percent from the previous quarter. As well, businesses involved in the energy and oil and gas sectors saw the economic forecasts in a more pessimistic light than the construction and retail sectors. About half of the energy industry thinks Alberta’s economy will be steady or better about six months from now. As for the sinking dollar, about 70 percent of Alberta’s small and medium-sized businesses continue to wrestle with the issue, as many find they’re spending more on inventory from the US and are starting to see an increase in the cost of goods imported.
– Posted by BET
