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Outlook Rosy for Exporters, Dimmer for Firms Tied to Oil Plunge: BoC Survey

Posted January 17, 2015

Under Economic Issues, International Trade Issues

(Barrie McKenna – Globe & Mail)

Things are looking up if you’re an exporter, particularly those with sales in the United States. It’s a markedly different story for businesses tied to the sinking price of crude, according to the Bank of Canada’s quarterly business outlook survey, released Monday.

The survey highlights Canada’s increasingly two-speed economy: slow in the energy sector, but still positive elsewhere.

The Bank of Canada said the survey suggests “strengthening demand, especially among export-oriented firms and manufacturers,” based on prospects for the next 12 months. The key drivers are the rebounding U.S. economy and a lower Canadian dollar. Read more here.