The Q1 2009 quarterly Index score is 66.5 which relates to a slight increase compared to the Q4 2008 Index score of 58.2. The Index is still down considerably when compared to the same period one year ago (-29.1). 96% of TEC Canada CEOs also believe the economy worsened over the past year but are hopeful the economy will continue to climb and improve.

Over 34% of TEC Canada CEOs surveyed feel there is an opportunity for their firms to benefit from the government stimulus package.

Q1 2009 CEO Index highlights:

- 96% believe the overall economic conditions have worsened compared to a year ago

- 62% expect the overall economic conditions will either improve or remain the same over the next twelve months

- 61% are confident their firm's expenditures will increase or remain the same

- 67% anticipate an increase in their firm's sales or it will remain the same

- 63% predict their firm's profitability will either increase or remain the same over the next twelve months

- 46% of CEOs expect to take pay cuts to help their companies through hard times

There are four significant issues TEC Canada CEOs and business leaders are concerned with: economic uncertainty, financial issues (finance, cash flow, and profitability), growth (growing too slowly) and staffing.

Overall there appears to be a degree of optimism for the remainder of 2009.

For over six years, the TEC Confidence Index has forecasted annual changes in the economy, including job creation and price increases. The quarterly survey continues to serve as an accurate snapshot of Canada's economic landscape.

Two hundred and fifty three CEOs of small to mid-size businesses took part in the survey and shared their views on current economic trends, issues affecting business and Canada as a whole.