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Atlantic exporters should benefit from US recovery in 2014: report

Housing starts in the US, expected to increase by about 25% next year, should benefit Atlantic lumber producers.


HALIFAX – The Atlantic Provinces Economic Council’s annual economic outlook says the Atlantic region should benefit from stronger demand for exports in 2014.

The report says a forecast from the International Monetary Fund predicts world growth will increase from 2.9% in 2013 to 3.6% in 2014.

The region’s largest customer, the US market, is expected to recover with growth levels of 2.6 per cent in 2014 as fiscal restraint eases.

The council says housing starts in the US are also expected to increase by about 25% next year which should benefit Atlantic lumber producers.

However, the council’s report says little job growth is expected in the four Atlantic provinces so consumer spending is likely to continue at a modest pace.

Check out a full copy of the report here.

©The Canadian Pres