Canada missing out on about $40B in exports to U.S., says BoC's Poloz
OTTAWA - Bank of Canada governor Stephen Poloz says Canadian exporters are losing out on $35 billion to $40 billion in sales to the United States compared with what should be expected from the recovery south of the border.
The central banker says a "wedge" has developed between the level of sales in the United States that Canadian exporters would historically expect given the current level of economic activity in their primary market and what they are actually delivering.
Poloz adds that the difference will not be eliminated until underperforming industries improve their competitiveness or new firms take up the slack.
Poloz still expects Canadian exporters to benefit from the expanding U.S. recovery, which he says is starting to fire on all cylinders, but less so than in past recoveries.
He says Canada needs a pickup in exports in order to sustain it's recovery.
Read more Business News
- Construction hampers businessKelowna
- Sex assault trial continuesPenticton / S. Okanagan
- Accused says he didn't act aloneBC
- Bike lanes not parking lanesKelowna
|QHR Technologies Inc||1.19||0.00|
|Anavex Life Sciences||0.25||-0.007|
|Copper Mountain Mining||3.03||+0.02|
|Sunrise Resources Ltd||0.025||0.00|
|Mission Ready Services||0.25||0.00|
There are several things to consider when deciding how much home to buy. 1. Draw up a budget including the new mortgage payments. While the rules used by most lenders require that the mortgage paym...
Photo: ContributedI would call it a joy ride... You see a planned project or business has a destination. It may be an ongoing revenue stream, it may be a business value or an exit strategy. If you don...
Establishing a joint account may seem like a great strategy at first glance. However, there are many factors that must be considered before taking this action. This article will explore the use of &ls...