Port of Montreal activities are slowing down, and this is not a good sign for the economy

The Port of Montreal is experiencing a economic slowdown compared to 2022.

There has been less economic activity and fewer containers passing through the Port of Montreal since the beginning of 2023 compared to 2022, suggesting an economic slowdown in Quebec and also in Ontario.

We must consider the Port of Montreal as an economic predictor, considers its CEO Martin Imbleau. 

“Supply chains have been greatly affected during the pandemic and companies have developed the reflex of building up large stocks to ensure that they can meet demand”, justifies the Director of Communications, Renée Larouche

The inflationary context is paired with a slowdown in consumer demand, resulting in inventories for businesses and merchants who are seeing their stocks move more slowly.

“The situation is not dramatic, our partners abroad tell us to expect more movement from the summer,” tempers Ms. Larouche.

Remember that the expansion project of the Port of Montreal in Contrecœur is still relevant. The CEO of the Port of Montreal, Martin Imbleau, will make a statement on this subject in the coming months to announce the consortium chosen to build and order the terminal.