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We expect developing markets to re-emerge. They've gone quiet in the past couple of years, weary of waiting for the world's large economies to get going again. Their recent record has persuaded pundits to throw them into the 'new normal' soup.
Leading indicators have gained more prominence in the post-crisis period, if only because the on-again, off-again economy has intensified scrutiny of shifts in momentum.If we are going to be months, or more realistically, years in unwinding extraordinary policy measures, which leading indicators can we rely on to point the way for the economy?
Canada's overall numbers are not as impressive, but they reflect the growth rotation that will see exports and business investment grab the baton from the consumer and housing sectors. Conditions already favour export growth: a weakening loonie, a surge in leading sectors, a key export market that is leading the way, and strong demand for resources.