While there was limited manufacturing growth in 2013, manufacturing.net is forecasting a turnaround in Canada in 2014.
The forecasting model looks at 15 industries representing 80 percent of Canadian manufacturing output and the data suggest that the economy will be stronger in 2014 than 2013.
What happens in the U.S. manufacturing sector will be an influential factor, but the U.S. outlook is good and economic consultant David Boisclair goes on to note in his report:
“This year and 2014 are still promising, but with conditions, including the performance of exports and business investment and, in turn, what goes on south of the border,” he explained. “The manufacturing sector is once again expected to fare quite unevenly, with durable goods in better shape than nondurable goods. Nevertheless, for most industries 2014 should bring positive growth after a much rockier 2013 than many had hoped.”
All of this may serve to have a positive effect on distribution companies, rental companies, and other supporting industries in the supply chain – and this is welcome news.