Exact(17)
Cost-cutting efforts by the company offset the impact of the weak global economy.
In the first quarter, the earnings impact of the weak currency was about the same.
British businesses continue to feel the impact of the weak economy.
The company raised its prices in an attempt to offset the impact of the weak pound, which hit a 23-year low against the dollar last week.
Brokers say it is the buyers in this sector of the market who are now growing concerned about the impact of the weak national housing market and the effect that Wall Street losses might have on Manhattan apartment prices.
Still, the impact of the weak loonie is tempered by snowbirds – the roughly 500,000 Canadians who head south for three to six months every year for a winter escape regardless of the rising costs.
Similar(43)
Exports climbed sharply while imports declined, showing the impact of the weaker pound.
The most immediate impact of the weaker yen has been the boost in profits of the major exporters.
The association attributed the improvement to the impact of the weaker euro, which stimulated exports and bolstered carriers' cargo business.
Economists are warning of steeper prices rises in the coming months as the full impact of the weaker pound following the Brexit vote is felt.
But he warned that growth was set to slow this year as the impact of the weaker pound raised inflation and eroded spending power.
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