Print Edition - 2018-08-05  |  Money Digest

Canada slashes trade deficit in June to $482m

OTTAWA

Aug 5, 2018-

Canada’s trade deficit fell to Can$626 million ($482 million) in June, according to official data released on Friday, as the nation searched for new trading partners and eased its reliance on the United States. The figure was far below the Can$2.3 billion deficit forecast by economists following a Can$2.7 billion deficit posted in May. “Canadian trade was a large and pleasant surprise in June, and a surge in exports for the month capped a solid quarter,” CIBC economist Avery Shenfeld said, adding that it will likely mean a Bank of Canada interest rate hike in September or October. The United States is still Canada’s largest single trading partner. (AFP)

Published: 05-08-2018 08:46

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