Canadian exporter optimism reaches 10-year high

Canadian companies are feeling optimistic about international business opportunities in the next six months, an new Export Development Canada report says.

The report is a summary of EDC’s Trade Confidence Index survey, which measures a number of elements that together, give an indication of how Canadian exporters and investors are feeling about their business opportunities in the next six months.

“In spite of weak data and increasing concern about the U.S. economy, Canadian exporters still seem to be expecting improvement in the global trade arena,” Peter Hall, the EDC’s chief economist said. “There is also increased interest in doing business in new countries, a sign that market diversification is alive and well.”...

Respondents cited the low Canadian dollar and resurgence of the U.S. economy as the main reasons for their positive outlook.

Overall trade confidence was tempered, however, by exporters’ bearish outlook on the domestic economy, which was mainly attributed to the downturn in the oil and gas sector and low Canadian dollar...

This has been excerpted from the 25 June 2015 article by Canadian Manufacturing.com

The full report, prepared by Ted Mallett, CFIB Vice-President & Chief Economist, is available on the Canadian Manufacturing website.