BMI maintains its broadly optimistic outlook for the Canadian port sector, but we remain concerned about import and export volumes. We believe the Canadian economy will continue to slow down in 2013 due to weakening residential construction and household consumption, but should avoid falling into recession. The mix of growth will continue to shift away from private consumption as household balance sheets remain under pressure. We now forecast 2013 GDP growth of 1.5% (down from 1.9% previously), following on from 1.8% in 2012 (we had expected 2.0% expansion). For 2014, we see an improvement to 2.1%, but this is a …
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