August 31, 2023 13:31 GMT
Current Account Deficit Notably Smaller Than Expected In Q2
- Canada's current account deficit came in notably smaller than expected in Q2 as it widened to -CAD6.6b (cons -11.45b) from a smaller than first thought -CAD3.17b (initial -6.17b) - all in seasonally adjusted terms.
- The change on the quarter was led by goods while service and income moderated. Trade in goods balance posted the first deficit since Q2 2021 at -CAD6.1b as exports decrease by -3.9%.
- Turning to the financial account, both Canadian direct investment abroad and foreign direct investment in Canada slowed to their lowest levels in more than two years.