The mood of small business in the U.S. has taken a turn to the pessimistic. The March survey of business optimism, by the National Federation of Independent Business, dipped nearly 2 points compared to February (March 92.5 - February 94.3) and reversed 6 straight months of gains. The price of gasoline is taking the blame. The report stands in sharp contrast to yesterday’s Bank of Canada survey that showed business optimism here at a 2 year high.
And U.S. wholesale inventories increased 0.9% in February. (January’s figure was revised upward to 0.6%.) Sales increased 1.2% in February, so there’s no risk of inventories piling up. It’s seen as a sign of continued, but slower, economic expansion in the U.S.
Tags: Commercial, Mortgages, Apartment, Multi-family, Financing, Lending, Canada, Vancouver, Calgary, Montreal, Toronto, Halifax, CMHC