Voyageur 78
A quarter of Canadians want to join the EU. Most of the rest are curious, and Canada's economy shrank in March. The trend isn't great.
News for residents of the “11th province”: Canadians abroad.
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A Quarter of Canadians Want to Join the EU. Most of the Rest Are Curious.
A Spark Advocacy poll of 4,000 Canadians found that one in four think Canada should formally join the European Union. Another 58% said the idea is worth considering further. More than 80% of respondents were at least open to the concept.
The numbers are indicative of something that's been building since the trade wars started. Bruce Anderson, Spark's CSO, said Canadians have experienced "a real shock to their sense of the status quo" around U.S. reliability. He went on to say that questions about how Canada should structure its economy for the future are now more central to the political conversation than at any previous point in his career.
Conservative supporters were the most skeptical, with about a third opposing the idea outright. Interestingly, nearly two-thirds of all respondents said Britain's departure from the EU in 2020 was a mistake.
Canada is not likely to ever join the EU, but the fact that the conversation exists at all is telling of where Canadians' heads are at. For Canucks already living in Europe, it might be the most validating poll result in years.
Read more: The Globe and Mail
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Canada's Economy Shrank in March. The Trend Line Isn't Great.
The Ivey Purchasing Managers Index dropped 49.7 in March, down from 56.6 in February. Anything below 50 means contraction. It's the first time the index has dipped below that line since November.
The services sector is in worse shape. March was the fifth straight month of decline, with uncertainty hammering new businesses and pushing up operating costs. The prices index went up nearly 12 points to 75.7, meaning businesses are paying more even as demand softens. Inventories dropped to 49.4 from 57.2 - companies are drawing down stock rather than ordering fresh.
The combination is not pretty. Costs are climbing, activity is falling, and businesses are pulling back on inventory - the classic setup for a slowdown that feeds on itself. The loonie has already been under pressure, and numbers like these aren’t going to give it any support.
For Canadians living abroad, the outlook is mixed. A weaker Canadian economy means a weaker dollar, which is good if you're earning in euros or pounds and sending money home. Not so hot if you're sitting on Canadian investments or planning on a return to the old country.
Read more: The Globe and Mail