dropped from its near-record heights last year and down into negative territory for the first time since the third quarter of 2016.
The pace of sales growth has "moderated slightly" over the previous 12 months following a solid year, the bank said. "The main headwinds are a more uncertain outlook in the Western Canadian energy sector, continued weakness in housing-related activity in some regions, and tangible impacts from global trade tensions."
"Despite some softening in business sentiment, intentions to spend on machinery and equipment remain healthy in most regions and continue to point to an increase in investment over the next 12 months," the central bank said. He listed challenges in the oilpatch, including difficulties shipping products out of the region, as well as broader concerns about whether Canada is competitive enough to attract investment given the corporate tax cuts in the United States.
If only we used the Bank of Canada for our government loans and kept the interest in Canada. It would reduce our debt and save tax payers a tonne. Makes you wonder....
One thing is for certain... The Canadian Loonie is worthless these days.