OTTAWA, Ont. — In another sign the worst of the recession may be behind us, Canadian exporters expressed optimism during Export Development Canada’s (EDC’s) semi-annual Trade Confidence Index.
Exporter confidence rebounded from the previous index more strongly than at any other time since the post-9/11 period, EDC said today.
“The jump in confidence is needed relief. The market mayhem last fall deepened what was already a serious loss of confidence,” said Peter Hall, vice-president and chief economist of EDC. “The current gain is impressive, but it has only lifted confidence marginally ahead of the 9/11 low point.”
The index had shown a three-period tumble dating back to the fall of 2007 before its recent rebound. Each successive drop in confidence set a new record low, according to EDC. Survey respondents base their responses on: trade opportunities; export sales; domestic sales; domestic economic conditions; and global economic conditions.
The latest survey suggests exporters feel both the global and domestic economies will improve. About a quarter of respondents see brighter near-term prospects. And only about a quarter of respondents expected things to get worse, down from a clear majority in the last survey.
Regionally, western Canadian exporters were the most optimistic followed by exporters from Ontario, then Atlantic Canada and finally Quebec. For the full results, click here.
Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry. All posts by Truck News