Supply Chain Research

Canada’s exports increased for a third month in December, and the surplus of over C$900 million was well ahead of economists’ expectations. However, the outperformance was due in part to restatements of earlier figures, and the growth rate slowed to 3% on a year earlier from 6% in November. Energy exports continue to be the main driver of growth, and should remain robust after oil prices climbed 63% in January. Forestry also continued to expand, but faces the threat of a delayed U.S. trade case. The big problem is auto exports. These fell 6% on a year earlier, the fastest rate of decline...