reportonbusiness.com: Canada’s trade winds shift to EU
I’ll just take on the first two sentences of this article, because to do a full fisking would take more time than I have this morning.

For Canadian exporters, the European Union’s red hot economic growth is making up handsomely for the laggard U.S. economy.

The EU’s growth has spiked up and ours has leveled, it is true; but the comparative projections for the next quarter are 2.6 (from the article) and 2.2, respectively…hardly the difference implied by “red-hot” and “laggard”.

Canada’s reliance on trade with the United States has ebbed to its lowest point in a decade.

In terms of percentage of total Canadian trade, yes. In terms of Current Dollars (both C$ and US$), it is near or at record levels, and still growing. Canada’s Ministry of Trade has an excellent website that lets people access all manner of trade data. It generated the following graphs:

 Public Sc Mrkti Tdst Tdo Tmp Grp 3735 8911

 Public Sc Mrkti Tdst Tdo Tmp Grp 3735 8909

Here are the comparable results for the EU, in both $C and $US:

 Public Sc Mrkti Tdst Tdo Tmp Grp 3735 8912

 Public Sc Mrkti Tdst Tdo Tmp Grp 3735 8910

While the growth looks much more dramatic, look at the scales on the left. Quite different, yes? Here are all four plotted on the same graph, with the y-axis starting at 0:

Picture 3-1

Slightly different story, n’est-ce pas?