David Newman presented at the CITT Canada Logistics Conference on Tuesday October 27, 2015. The presentation highlighted the United States as an area of economic strength amidst a weaker global market, with international trade impacted by lower demand for commodities out of key markets like China, which has focused on building a consumer-driven economy versus developing its infrastructure. While the US consumer continues to buoy the US economy, the industrial sector is relatively tepid, given a deceleration in China, the weak energy and commodity markets and a rising US dollar. Canada should benefit from proximity to the US, its largest trading partner, and a weak Canadian dollar, which should support greater non-energy related exports. Of course, the US consumer continues to advance from a position of strength, with greater employment, strengthening income trends, improving consumer confidence, rising household formation and expenditures and lower household debt. This has stimulated southbound traffic out of Canada. Freight traffic has been relatively tepid, given weak industrial conditions, but ultimately the US consumer should prevail. We expect the global economy to tick upwards in 2016.
Download our executive summary: TMWG Presentation to CITT Oct 2015 Executive Summary
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