U.S. demand still strong, say Canadian companies
OTTAWA - Canadian exporters are reporting that demand from U.S. customers has remained strong over the past six months, according to a semi-annual survey of Canadian exporters and investors by Export Development Canada (EDC).
Three quarters of Canadian companies surveyed indicated that U.S. orders either increased or remained at the same level since the spring.
"What Canadian exporters have been experiencing in real time is now showing up in the economic data, where the U.S. private sector is showing sustained, broad-based growth," said Peter Hall, Chief Economist, EDC.
"In the U.S., housing markets are roaring ahead, consumers are spending at a fast pace and businesses are on the verge of parting with a chunk of their vast cash stash. Conditions slowed in the summer months, but the U.S. economy is shrugging it off, and companies that I have spoken with are feeling the positive impact."
EDC's Trade Confidence Index (TCI) examines the attitudes of Canadian exporters as they forecast the business environment over the next six months through five index elements: trade opportunities, export sales, domestic sales, and both domestic and global economic conditions.