Exports decline for the third consecutive quarter

by Canadian Shipper

Exports fell 0.8% in the second quarter, following declines in the previous two quarters, Statistics Canada reports.

This marks the first occurrence of three consecutive declines in export volumes since 1991.

Machinery and equipment exports dropped 6.0% after falling 4.6% in the previous quarter, the largest back-to-back decline in 18 years. Telecommunications equipment exports were the major contributor to this weakness. Partly offsetting the drop in machinery and equipment exports, automotive exports jumped 6.9% as sales rebounded in US markets.

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