Current Account in Canada

Canada Current Account | Economic News & Forecasts

Canada - Current Account

The economy likely gained momentum in the second quarter. GDP growth for May exceeded expectations, with the manufacturing sector expanding strongly, supported by normal production in the automobile industry following temporary shutdowns in April, while construction had another strong showing. Moreover, easing production cuts in Alberta’s oil sands should have also supported momentum in the quarter. However, soft retail sales in Q2 suggest consumers remain wary despite the strong labor market. Looking at the third quarter, the economy seems to be losing some steam. In July, the unemployment rate rose, while confidence among small businesses fell as skilled labor shortages and weak domestic demand weighed on sales. That said, in the same month, the manufacturing PMI moved back into positive territory, while strong housing starts bode well for residential investment.

Canada - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-3.2  -2.4  -3.5  -3.2  -2.8  

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Canada Current Account Chart

Canada Current Account
Note: Current account balance as % of GDP.
Source: Statistics Canada and FocusEconomics calculations.

Canada Facts

Bond Yield1.131.00 %Sep 03
Exchange Rate1.320.15 %Sep 04
Stock Market16,4490.23 %Sep 04

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