NAFTA worries spoiling the upbeat mood?
- July 2, 2018
Despite good economic news, uncertainty around NAFTA and other issues has Canadian businesses worried about the future, says a Globe and Mail report filed on Canada Day.
In the article, the chief economist at Export Development Canada, the government’s export credit agency, reports that Canadian order books are full and firms are struggling to keep up with demand. The economy is running at full capacity, wage growth is strong, employment figures are positive and Canada’s exports are robust.
And yet while they feel upbeat about how thigs are going now, Canadian firms say they are worried about a range of issues: NAFTA and worsening trade relations with the US, rising interest rates, heavy consumer debt, protectionism and Canadian tax competitiveness.
“The unease seems at odds with the economic success story that Canada has put together since it celebrated its 150th birthday last July 1,” the report concludes. “Frankly, the country celebrates its 151st on a high.”