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The left hand of the chart in the 2nd link provides some perspective for this year's numbers.

July 2024 through Jan 2025, the YoY numbers are always in the 7%-9% range. Averages to 7.7% across those months.

Feb 2025 to July 2025, there's only a single month (April) in that range. We've got 2 months at 1% YoY growth, one break even, and two negative. Those months average out to about 0.7%. If you include Jan 2025 to align to the calendar year 2025, you get 1.57%, which seems to be the number that becomes 'nearly 2 percent' in the text under the chart.

While it is still positive growth, it's 20% of the YoY growth trend for several months heading up to 2025. If you take out Jan 2025 (2/3 of which Trump was not yet president), it's only 10%.



Their comment about Canada's trade prospects are very telling. They are trying to spin a false narrative (surprise surprise).


In your opinion, what is false about it? Canada's growth segment in exports was minerals and tourism services. That's Canada's situation, unfortunately.


"Non-inflation-adjusted tourist dollars spent" was an odd metric to choose.

The number of international arrivals is down YTD (-3%): https://www.trade.gov/i-94-arrivals-program


Ask any business if they care about revenue or customers. $ is the goal.




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