Google Groups no longer supports new Usenet posts or subscriptions. Historical content remains viewable.
Dismiss
Canada posts November trade surplus.
0 views
Skip to first unread message
abc
Jan 13, 2012, 12:10:09 PM1/13/12
to
Canada posts surprise trade surplus
POSTMEDIA NEWS JANUARY 13, 2012
Canadian exports rose in November, while imports declined.
OTTAWA — Canada's trade balance with the rest of the world unexpectedly
swung into a surplus in November, as exports — led by energy products and
automobiles — increased while imports declined.
Statistics Canada said Friday the country had a surplus of $1.07 billion
during the month, compared with a revised $487-million deficit in
October.
Most economists had expected a trade deficit of $500 million in November.
"We had expected a reading in the black for November, and the details
confirm that a stronger pace of activity in the U.S. was a key driver of
the month's rebounding trade," CIBC World Markets said in a morning note.
The federal agency said exports rose 3.2 per cent to $40.1 billion.
"Prices increased 1.7 per cent, led by energy products, while volumes
rose 1.6 per cent, largely the result of automotive products," it said.
Imports declined 0.8 per cent to $39 billion, with both prices and
volumes falling in November.
"The overall decline in imports was attributable to lower imports of
automotive products, as well as industrial goods and materials. The
decline was partially offset by an increase in energy products."
BMO Capital Markets economist Michael Gregory said November marked the
only the second time in the past 10 months that the country has managed a
surplus.
He said "given the competitive challenges posed by the combination of a
lofty loonie and poor productivity performance along with some fading in
current U.S. demand momentum expected early this year, trade surpluses
should remain a rare bird."
Meanwhile in the United States, data on Friday showed that country's
trade deficit widened by a more-than-expected 10.4 per cent to $47.8
billion US in November, up from revised $43.3 billion U.S. the previous
month.
Postmedia News
Twitter.com/PNBusiness
POSTMEDIA NEWS JANUARY 13, 2012
Canadian exports rose in November, while imports declined.
OTTAWA — Canada's trade balance with the rest of the world unexpectedly
swung into a surplus in November, as exports — led by energy products and
automobiles — increased while imports declined.
Statistics Canada said Friday the country had a surplus of $1.07 billion
during the month, compared with a revised $487-million deficit in
October.
Most economists had expected a trade deficit of $500 million in November.
"We had expected a reading in the black for November, and the details
confirm that a stronger pace of activity in the U.S. was a key driver of
the month's rebounding trade," CIBC World Markets said in a morning note.
The federal agency said exports rose 3.2 per cent to $40.1 billion.
"Prices increased 1.7 per cent, led by energy products, while volumes
rose 1.6 per cent, largely the result of automotive products," it said.
Imports declined 0.8 per cent to $39 billion, with both prices and
volumes falling in November.
"The overall decline in imports was attributable to lower imports of
automotive products, as well as industrial goods and materials. The
decline was partially offset by an increase in energy products."
BMO Capital Markets economist Michael Gregory said November marked the
only the second time in the past 10 months that the country has managed a
surplus.
He said "given the competitive challenges posed by the combination of a
lofty loonie and poor productivity performance along with some fading in
current U.S. demand momentum expected early this year, trade surpluses
should remain a rare bird."
Meanwhile in the United States, data on Friday showed that country's
trade deficit widened by a more-than-expected 10.4 per cent to $47.8
billion US in November, up from revised $43.3 billion U.S. the previous
month.
Postmedia News
Twitter.com/PNBusiness
Greg Carr
Jan 14, 2012, 3:14:30 PM1/14/12
to
ÇonsŽ<37%
Jan 14, 2012, 6:25:29 PM1/14/12
to
"abc" <a...@a123.ca> wrote in message
news:20120113-1...@abc.shawnews.vc.shawcable.net...
Too bad that that "surplus" translated into losses in permanent jobs and a higher UNemployment
rate, hmmm ?
news:20120113-1...@abc.shawnews.vc.shawcable.net...
> Canada posts surprise trade surplus
>
> POSTMEDIA NEWS JANUARY 13, 2012
>
> Canadian exports rose in November, while imports declined.
[snip]
>
> POSTMEDIA NEWS JANUARY 13, 2012
>
> Canadian exports rose in November, while imports declined.
Too bad that that "surplus" translated into losses in permanent jobs and a higher UNemployment
rate, hmmm ?
ÇonsŽ<37%
Jan 14, 2012, 6:27:31 PM1/14/12
to
>>"Greg Carr" <gregcarr...@lycos.com> wrote in message
>>news:292908d6-a06b-4365-bbdf->>f843f0...@g4g2000pbi.googlegroups.com...
that didn't do our job rate an iota of good. Must be American firms in Alberta exporting to
the U.S.
>>news:292908d6-a06b-4365-bbdf->>f843f0...@g4g2000pbi.googlegroups.com...
>> Good news hopefully it is not a fluke.
Considering the flukes we have running this country, it is almost certainly "a fluke". One
that didn't do our job rate an iota of good. Must be American firms in Alberta exporting to
the U.S.
0 new messages