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Companies take stock of rail shutdown’s hit to economy — and bottom lines

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Credit rating agency estimated work stoppage would cost $341 million per day

The economic fallout of the country’s rail shutdown is set to come into focus this week as shippers and producers take stock of cargo delays and financial losses.

The credit rating agency said agriculture, forestry and manufacturing were among the hardest-hit sectors. The board’s decision dropped two days after Labour Minister Steven MacKinnon directed the arm’s-length tribunal to begin the arbitration process, saying the parties were at an impasse in contract talks and Canadian businesses and trade relationships were at stake.

 

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