The Canadian Press

Small and medium-sized businesses were less optimistic in the month of December, according to a survey from the Canadian Federation of Independent Business.

The federation says its survey suggests the economy was still only recovering at a gradual pace during the month, with its business barometer index falling to 63.7 from 68 a month earlier and still below its 2009 peak of 68.7.

It says the sour mood in December among small business owners and operators prevailed across 10 of the 13 industry categories the federation surveys and in 8 of 10 provinces.

The federation’s chief economist says the survey suggests that small business owners felt they were not “out of the woods yet” after the recession, and were worried that there will be a large tax bill to deal with alongside slow economic growth.

The holiday season did see improvements in December, with the personal services sector and the retail sector reporting above-average confidence.

There was less optimism from the hospitality industry as consumer spending remained tight and confidence in the manufacturing and construction sectors fell as worries grew that a rising Canadian dollar would make exports less attractive to buyers.