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Canadian manufacturers more positive about economy |
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Canadian manufacturers and exporters are surprisingly upbeat about the economic outlook, according to a recent survey conducted by the Canadian Manufacturers & Exporters’ (CME).
“This
sentiment is a little surprising considering the wild rollercoaster
ride manufacturers and exporters had in June, courtesy of a volatile
currency,” says CME President & CEO, Jayson Myer in the CME's June Business Conditions Survey.“The outlook
for orders and employment continues to be positive and I hope this
trend continues.”
The CME's business conditions survey was conducted in the first three weeks of June with 608 companies participating. Although the survey notes that while most manufacturers and exporters surveyed in June are still reporting the value of their orders is lower than
it was three months ago, results this month reinforce the beginning of
a positive trend that started in May.
According to the survey, only 51% of companies reported that orders have
fallen in value compared to three months ago, a 6%
improvement over May.
"A
majority-69%-of firms report that they expect the value
of new orders to stay the same or increase in value over the next three
months, a slight increase of 3% from May. Only 31%
say that orders are likely to decrease between June, 2009 and September,
2009 (a slight improvement over 34% last month), and 24% expect to see orders increase, a slight drop from 28% last
month," the CME survey states.
The survey also aniticipates that employment will also improve. "Thirteen per cent of companies
expect to increase employment the next three months, which is on par
with the results from the previous three surveys. The number of firms
who are planning layoffs has decreased from 38% to 27%. cme-mec.ca
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