Manufacturing growth held steady in October despite continuing uncertainty in the global economy, according to the RBC Canadian Manufacturing Purchasing Managers Index.
Canadian manufacturers and exporters are holding back on hiring new workers and making new investments as they cope with fewer orders from the US.
US President Barack Obama’s proposed new $447 billion American Jobs Act is aimed at creating much-needed jobs in the United States, but it’s also reigniting trade tensions between the country and Canada, its biggest trading partner.
The pace of new business picked up for Canadian manufacturers in August according to a new Canadian purchasing managers index report that follows a Statistics Canada’s latest GDP figures showing a contraction in the second quarter.
Based on initiatives undertaken by more than 4,000 Ontario manufacturing companies during this difficult period, here are some of the lessons that are applicable to any size manufacturer.
The global economy is coming back to life after last year’s economic meltdown, and Canadian manufacturers are getting back in the game. But they’re facing a very different business and trade environment.
For years the Canadian federal and provincial governments, not to mention all those armchair experts, have been urging manufacturers to move their export focus beyond the North American market. Small and medium-sized businesses, with some notable exceptions, have largely ignored…
Manufacturers are venturing beyond North America for sales. Photo: Istockphoto Everyone is breathing a sigh of relief that 2009 is drawing to a close, not that 2010 is shaping up to be a blockbuster year. The prognosticators are pronouncing prospects…