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- PayNet's Canadian small business lending index climbs to 142.0 in September
PayNet's Canadian small business lending index climbs to 142.0 in September
According to data from PayNet released on Monday, Canadian small business lending index climbed to 142.0 in September from 131.8 in August. On a yearly basis, the index rose 14% in September.
"We are seeing that the small businesses are becoming an engine of growth for the Canadian economy at a time when the big companies, some of them in the energy sector, are contracting," PayNet's president Bill Phelan said. He added that small businesses "are a good leading economic indicator".
The index of Canadian medium-sized businesses declined to 213.6 in September from 220.7 in August. On a yearly basis, the index fell 12% in September.
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