A monthly measure of small-business confidence in Canada showed it held steady last month.
The Canadian Federation of Independent Business' "business barometer" for November had a score of 63.7, barely changed from 63.6 in October.
"This level is still lower than normal, however, as overhanging concerns about the potential spread of economic weakness out of Europe appear to be still at play," CFIB chief economist Ted Mallett said.
"The Index has recovered two of the 6.6 points lost in August when the euro currency and U.S. fiscal policy crises hit world financial markets, suggesting the Canadian economy is performing at a slower pace, but has not dipped into recession."
A score of 50 or more indicates more business owners expecting stronger results over the next year than those anticipating a weaker performance for their companies.
Retailers and operators of hospitality businesses scored relatively well, "suggesting a reasonably good holiday shopping season -- all considered," the CFIB said.
Those in the manufacturing, construction and transportations sectors were less optimistic.
The index is based on web surveys with 1,126 CFIB members. It has a margin of error 2.9 percentage points, 19 times out of 20.
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