Trade Balance in Canada
Canada - Trade Balance (billions of Canadian dollars)GDP contracted in Q2, as a decline in fixed investment hampered growth in domestic demand, while a steep drop in exports weighed on the external sector. Turning to Q3, the economy should have rebounded robustly, but a preliminary GDP estimate for the month of July suggested output dipped 0.4%, dragged down by downbeat manufacturing and retail trade activity. Meanwhile, fears of another wave of Covid-19 cases will likely keep authorities from easing restrictions anytime soon. Nevertheless, the unemployment rate dipped to its lowest level since February 2020 in August, while the manufacturing PMI suggested activity expanded at a quicker pace in the same month relative to July, boding well for overall GDP. In politics, Trudeau’s Liberal Party failed to secure a majority government in the latest election held on 20 September, but will remain in power, leaving the economic landscape more or less the same.
Canada - Trade Balance (CAD bn) Data
|Trade Balance (CAD billion)||-24.6||-25.0||-24.1||-22.1||-18.4|
5 years of economic forecasts for more than 30 economic indicators.
Canada Trade Balance (CAD bn) Chart
Source: Statistics Canada.
|Bond Yield||1.70||1.00 %||Dec 31|
|Exchange Rate||1.30||0.15 %||Jan 01|
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September 20, 2021
According to the Teranet-National Bank Composite House Price Index, house price growth fell to 1.0% on a month-on-month non-seasonally-adjusted basis in August, from July’s 2.0%.
September 16, 2021
Housing starts ticked down to 260,239 units on a seasonally-adjusted annualized rate (SAAR) basis in August according to the Canada Mortgage and Housing Corporation (CMHC), from July’s 270,744-unit reading.
September 16, 2021
Consumer prices rose a seasonally-adjusted 0.42% over the previous month in August, coming in below July's 0.57% increase.
September 3, 2021
In August, the IHS Markit Manufacturing Purchasing Managers’ Index (PMI) increased to 57.2 from July’s 56.2.
August 31, 2021
GDP decreased 1.1% in seasonally-adjusted annualized terms (SAAR) in the second quarter of 2021, contrasting the 5.5% expansion logged in the first quarter.