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Canada’s CFIB Business Barometer long-term index, which tracks 12-month forward expectations for business performance, rose to 55.5 in November 2025 from an upwardly revised 46.7 in October. It was the highest level since December 2024, suggesting small business optimism recovered somewhat, supported by easing price pressure expectations, despite ongoing challenges and uncertainty in 2025. The short-term optimism index, reflecting a 3-month outlook, also inched up 1.2 points to 46.0. Long-term confidence strengthened across most provinces, except Newfoundland and Labrador and Prince Edward Island, which remained largely unchanged. Sector-wise, confidence improved broadly, with the exception of health and education and agriculture.