BMI maintains its broadly optimistic outlook for the Canadian port sector, but we remain concerned about import and export volumes. A slowdown in private consumption should lead to weaker import growth in 2013. Meanwhile, a renewed US recession would severely dampen Canadian exports and we could easily see the contribution from net exports turn negative in the next year or two. We have downgraded our Canadian GDP growth forecast for 2013 to 2.1% from 2.3%. While most of our individual forecasts of GDP by expenditure category remain the same, we have downgraded our real export growth projection to 5.0% from …
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