Global sales gains were moderate, Scotiabank said, as purchases decline temporarily in Asia.
Based on available data, Scotiabank’s latest Auto News flash says that Canadian sales declined two per cent year-over-year in November, ending the six-month streak of monthly records.
Mid-market enterprises in Canada contribute $350 billion to the economy and directly employ almost 25 per cent of Canadians, the report from HSBC also says.
Mike Hicks, vice president of Windsor, Ont.-based mold component supplier DMS Components, spent a memorable four days as a guest at the invitation-only Red Carpet Tour in April 2017, an event designed to showcase Georgia’s attractiveness for new business investment.
The Plastics Industry Association, the leading plastic industry group in the U.S., has come out in favour of the Republican’s new tax reform proposal, in particular its lower corporate tax rate. In a Nov. 2 statement, Plastics Industry Association president…
U.S. purchases defied expectations, Scotiabank also said, remaining at an annualized 18 million units last month.
Global car sales accelerated through the summer, a new report from Scotiabank said, with volumes advancing 4.5% above a year earlier in August, double the growth of the previous three months.
Canada’s economy is on pace to match the best annual growth performance since the Great Recession, a new report from BMO Capital Markets Economics and BMO Commercial Banking said, with real GDP likely to expand 3.1% this year, up from 1.5% in 2016.
The transportation equipment and petroleum and coal product industries post the largest gains, the agency said.
The report from DesRosiers Automotive Consultants says investment has been almost cut in half, noting “Canada’s loss of investment market share to Mexico and the southern U.S. over this period has been well documented.”
The trade surplus with the U.S. narrowed to $2.3 billion in August, StatsCan said, but the country’s trade deficit with countries other than the U.S. slipped to $5.7 billion.
U.S. purchases rebounded to a cycle-high in September, Scotiabank said.
In particular, the Association supports the plan’s lower corporate tax rate, immediate expensing of capital investments, and the preservation of the research and development tax credit.
Manufacturers are also more confident about the year ahead business outlook than at any time since April, the Markit Canada Manufacturing Purchasing Managers’ index report said.
In Canada, auto industry output is advancing nearly four times faster than the overall growth rate of manufacturing as a whole, the new report from Scotiabank said.
The shipments value of injection molding machinery increased 9 per cent in Q2, the shipments value of single-screw extruders declined by 16 per cent, the shipments value of twin-screw extruders jumped 56 per cent, and the shipments value of blow molding machines slipped down by 2 per cent in Q2, the report said.
U.S. fleet volumes began to stabilize from the double-digit decline of recent months, Scotiabank also said.
The expanding global economy is leading to a re-acceleration in global auto sales, Scotiabank’s latest Global Auto Report said, and this economic growth is also lifting purchases in Canada
Canada’s gross domestic product grew by 1.1 per cent between March and June, an improvement from the 0.9 per cent growth seen in the previous three-month period, the agency said.
Results of the new 17th annual North American Automotive OEM-Supplier Working Relations Index study revealed that GM now ranks ahead of Fiat-Chrysler US, Ford and Nissan, which is now in last place.