(Ross Marowits – Toronto Star)
The Canadian government’s lending agency for exporters says falling energy and metal prices will mask healthy Canadian export volumes next year. Export Development Canada forecasts the value of exports will rise 10% this year, but only 6% in 2015.
Stripping out the impact of sliding prices for resources such as oil, iron ore and copper, export volumes are expected to increase one percentage point to 5% and stay at that level for several years.
Chief economist Peter Hall says that level of exports is an “up shift” from 2010 and would be the best stretch since before the 2008 economic recession. A lower Canadian dollar and surging U.S. economy could even boost export growth beyond EDC’s forecast, he says. Hall says the positive export outlook is driven mainly by the surging U.S. economy, which is growing at a pace as fast or faster than all but one period in the last 20 years. Read more here.
Related: U.S. Business: Spending Again! (EDC)