Nov 17 Lending activity to Canadian
small businesses slowed modestly in September, though borrowing
picked up for medium-sized firms, a report showed on Thursday,
suggesting overall economic conditions were improving.The PayNet Canadian Small Business Lending Index edged down
to 117.7 from a reading of 119.7 in August, posting a drop after
increasing for the previous two months.But at medium-sized companies, the gauge of lending
increased to 224.1 from 219.3. Lending was also up 5 percent
compared to a year before, the index’s first year-over-year
increase since June 2015.Canada’s economy was in a brief recession last year when it
was hit by the drop in oil prices and the pullback in investment
in the energy sector has weighed on smaller businesses.
But September’s increase in lending in the manufacturing
sector and in the oil-sensitive province of Alberta suggested
the economy was adjusting, said PayNet President Bill Phelan.”It seems like a little bit of a …