The point of departure for this week’s web-survey of the panel of business leaders and CEOs was a recent Statistics Canada report on trade figures for

November 2004, which show a small decrease in exports and a substantial decrease in imports resulting in a record trade surplus.

Panelists are bullish about the present state of the Canadian economy. Reports of capital spending revisions by their own organizations are broadly consistent with their own bullishness. They nonetheless forecast some leveling off of the Canadian economy by mid-2005 in part because of some perceptions that the high loonie may harm exports. Not all members of the panel are convinced that exports will be harmed by the higher Canadian dollar.

There emerges no consensus of opinion on how to interpret Statistics Canada figures pointing to a decline in imports.

These are the key findings of the weekly on-line survey of CEOs and business leaders for publication in the National Post under the sponsorship of BDO Dunwoody LLP and the Canadian Chamber of Commerce.

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