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June 27, 2017
Canadian exporters' confidence remains strong
According to a semi-annual report from Export Development Canada (EDC), Canadian companies' confidence in selling abroad is surprisingly strong right now, even slightly higher than it was six months ago.
EDC's Trade Confidence Index (TCI) has increased 1.6 points from 72.3 in Fall 2016 to 73.9 in Spring 2017. The TCI rose in all industry categories, and in all regions except Quebec.
As EDC points out, Canadian exporters would have many reasons to be fearful. Anti-trade rhetoric is higher than at any point in recent history. Free trade agreements are being scuttled, or renegotiated. There's a real-time threat to the world's largest economic union.
Why aren't Canadian companies worried? According to EDC it seems they're too busy processing current business to fret about policies that may or may not come into effect.
"What's clear from this survey is that Canadian companies aren't getting thrown off their game by rhetoric or policy threats; for now, it's status quo," said Peter Hall, Chief Economist, EDC. "Anecdotally, we are hearing from companies that near-term contracts continue to roll in from their US buyers, giving them some measure of security. They are paying attention to the trade debate, but getting on with the job."
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