Word: traded
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Dates: during 2000-2009
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...Things are really bad here in Canada," says Jayson Myers, president of Canadian Manufacturers & Exporters, the country's largest trade and industry association. "Our manufacturing and export performance is the worst it's been since the end of World War II." He points to a 30% reduction in manufacturing orders over a six-month period ending in March 2009 and a loss of 221,000 manufacturing jobs in the past 12 months as evidence of the deepening crisis...
...plus side, there was some improvement in commodity prices in May - but it was more than offset by an appreciating currency and lower export volumes, which crushed trade receipts. As a result, second-quarter GDP is expected to contract 3.1% on an annualized basis, according to the Toronto-based investment dealer CIBC World Markets. "I wouldn't be surprised if June was as bad as May," says CIBC economist Krishen Rangasamy, referring to Canada's trade deficit. He expects the country's balance of trade to begin improving in the fourth quarter, with annualized GDP growth...
Economist David Rosenberg, of investment firm Gluskin Sheff & Associates in Toronto, says Canada's trade deficit is the result of an overvalued loonie bumping up against a lingering downturn in U.S. consumer spending. "The Canadian dollar's overvaluation is a major impediment to the manufacturing sector," says Rosenberg, former chief economist at Merrill Lynch in New York City, noting that the loonie has overshot its real value by about...
Economists predict a contraction in the Canadian economy of between 1.4% and 1.9% this year, followed by tepid growth of 2.4% to 2.7% in 2010. If Canada hopes to get back on the road to recovery, not only will it have to erase its burgeoning trade deficit, but just as important, the country's volume of trade will have to make up for lost ground in 2009. Right now, achieving either looks to be a long...
...mean it won't become a significant business. Many consumers may choose to own both 2-D and 3-D digicams. "Video has shown us there's room for more than one camera in anyone's house," says Gary Pageau, publisher of PMA, an international photography and imaging trade association. "Consumers won't want every picture to be 3-D, but if the results are good enough, they can add it to the pictures they are already taking." Fujifilm could certainly benefit from the extra dimension...