Improvements in the economy are coming soon.
The worst may be over’: Canadian exporters more optimistic about global economy
OTTAWA — Canada’s beleaguered exporters are seeing a glimmer of hope that “the worst may be over” for the global economy, gradually opening trade gates wider in the coming months.
That renewed optimism “is broadly-based, cutting across all sectors,” as conditions continue to improve, particularly in Europe and United States, according to Export Development Canada.
“Exporters are telling us that they feel the worst may be over in Europe, that U.S. customers are ordering more, and that they are more optimistic that world markets will turn a corner in the next six months,” EDC chief economist Peter Hall said Thursday.
EDC, the Ottawa-based credit agency, said its semi-annual survey shows less pessimism and more hope among companies that export routes are clearing and should improve over the next six months.
Its spring trade index rose to 72.6, up from 70.7 in its fall reading. EDC said mining and oil and gas were the only sectors not to see an upturn in confidence, “which is not surprising given that prices are continuing to slide. Canada’s oil and gas sector continues to face transportation constraints that are weighing on their sales.”