Skip to main content

Narrowing in the trade deficit probably temporary

The employment figures took a lot of the gloss off the news earlier in the week that monthly GDP growth accelerated back in August. It is clear that even if energy and autos production were enjoying a late summer recovery, conditions were a lot weaker in the rest of the economy and we have seen some further deterioration through the fall. We doubt that the Bank of Canada would want to respond just yet with a rate cut, but it won't sit on the sidelines for long if the unemployment rate starts to climb higher.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services


Get access