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Canadian exporters’ confidence drops
08 December 2011
Export Development Canada has published the results of its Trade Confidence Index showing a plunge in confidence, but there is good news from those companies with overseas affiliates.
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Canada exports
EDC
TCI
trade confidence
CDIA
Canadian exporters
Export Development Canada’s (EDC) Trade Confidence Index shows Canadian companies are as pessimistic as they were in 2009 following a plunge in confidence levels from only six months ago.
“Canadian exporters appear frustrated by the uncertainty in the global economy and the world’s markets, a clear and consistent message we are hearing from our customers,” says Peter Hall, chief economist of EDC. “That uncertainty makes planning for the future extremely difficult. The absence of clear economic direction leads to a state of heightened tension where even the smallest nudge can trigger an irrational over-response. We believe that’s what this survey is telling us.”
EDC’s Trade Confidence Index (TCI), a semi-annual survey of Canadian exporters and investors, declined by an overall 12% since the spring of 2011. The decline was only the second time since 2000 that the composite index score dropped by more than 10 points. The...
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