Export Development Canada sees 2014 as a year of promise. According to their Vice President and Chief Economist, Peter G. Hall, “if the leading indicators are really rising together in a sustainable way, it’s pointing to a new upsurge of growth.”
Hall outlines four main factors that are fueling his predication. The most interesting and important for shippers is what Hall calls “evidence of pent up demand.” While households and businesses have been in save mode, Hall believes wallets are about to open on a global scale. “Households can only put off purchases for so long before the cars need repairing or replacement, the appliances break down, the roof needs shingling, and so forth. The same is true for business,” says Hall.
At first, it seems like it’s a case of having to spend, rather than wanting to spend, but Hall maintains that isn’t the case. He believes individuals and businesses want to become consumers again.
And current numbers are proving him right:
What does this mean for you? Economies are beginning to grow, your business will do the same. And when pent up demand starts to peak, know that we can handle getting it where you need to—whether you’re shipping across country, across the border, or across the world.
Here’s to a promising 2014!