Canada's monthly trade deficit shrinks in June to smallest since January 2017
06 August, 2018, 02:05 | Author: Mary Valdez
Exports jumped 4.1 per cent, their biggest one-month increase since November, 2016, to a record $50.7-billion, while imports dipped 0.2 per cent.
Meanwhile, the deficit declined with Japan but that came amid an overall decline in trade between the world's largest and third-largest economies.
The June figures capped an otherwise positive quarter for US trade, as a narrowing of the deficit contributed the most to economic growth since 2013.
The median estimate of economists surveyed by Bloomberg called for a June trade deficit of $46.5 billion.
In June, the United States posted a surplus of $22.5 billion in the trade of services such as banking and education.
At the same time, trade spats have seen the United States and Canada impose tariffs on some products that cross the border.
As the numbers were released, Beijing warned it was ready to impose new tariffs on $60 billion in American products if Trump pressed ahead with plans to hit another $200 billion in Chinese goods with steep punitive duties. Afterward, they tend to look for alternative suppliers.
The data underscored the importance to Canada of the United States, which took 73.0 percent of all Canadian goods exports in June. Earlier in the year, the USA had been increasing imports of both groups of metals.
Manchester United's move for Barcelona's Yerry Mina cancelled
Manchester United target Toby Alderweireld is unlikely to remain at Tottenham Hotspur , reporter Michael Bridge has claimed . With the two Premier League clubs having rescinded their offers, it now leaves Mina with no suitors at the current time.
Iran to conduct 'swarm' drills in the Persian Gulf soon
"We are aware of the increase in Iranian naval operations within the Arabian (sic) Gulf, Strait of Hormuz and Gulf of Oman. Tensions between the two nations increased after the U.S. withdrew from the Iran nuclear deal in May.
"Exports will rise over the quarter, but strong domestic demand growth will lift imports more rapidly", he said in a client note. "The narrowing to the smallest deficit since January 2017 was in large part due a surge in exports to an alltime high".
Soybean exports remained strong in June.
In the second quarter, the USA economy grew at an annualized rate of 4.1%, the fastest pace of growth since 2014. Energy exports were up 7.1 per cent month over month, while energy imports were down 15.1 per cent.
The result could weigh on revised calculations of second quarter growth, which President Donald Trump hailed as a key achievement of his economic policies last week after it was reported as the strongest GDP increase in almost four years.
There is little to suggest that will change soon.
Rising demand by USA households and businesses is expected to keep supporting purchases of foreign-made goods in coming months.
The Canadian dollar was little changed at C$1.3001, or 76.92 US cents. A weaker Canadian dollar in the month was a contributing factor. "We expect the trade deficit to continue to widen, as a fiscal stimulus-led boost to demand leads to higher imports". Economic growth is on track for a 3 per cent annualized pace in the second quarter, and the trade data bolsters the case for another central bank rate increase by October, he said.
Meanwhile, Uganda has set up screening at the land border it shares with Congo and at its Entebbe worldwide airport. Six samples from these patients were tested, and four tested positive for Ebola , the ministry said.
As it played, Diaz abruptly left the presser he was at and tweeted "I'm not fighting on that show (expletive) the UFC ". Many thought that Conor McGregor and Khabib Nurmagomedov would be in attendance, but alas they were not.
Meanwhile, black boxes from the Mi-8 have already been retrieved from the crash site, but their condition is yet unclear. Utair has launched its own investigation of the Siberian crash and offered its condolences to families of the deceased.
The capsules, made by SpaceX and Boeing , will ferry the astronauts and cargo back and forth to the International Space Station. They were two of the four astronauts selected by NASA in July 2015 to be trained to fly commercial crew missions.
Bush appointee who has a mild and straightforward manner on the bench, has not threatened the government with any sanctions. The ACLU has asked that parents, once reunited with their children, have a week to decide whether they want to seek asylum.
Foodora denied the accusations, noting it was divesting its interests in France, Italy and the Netherlands at the same time. Most people are attracted to the freedom and flexibility of the gig economy, but these five factors may change your mind.
Senate Democratic Leader Chuck Schumer of NY is vowing to do everything in his power to block the administration. State insurance regulators also have jurisdiction, and many states may move to impose their own restrictions.
Manchester City manager Pep Guardiola admits that his side have no momentum going into this weekend's Community Shield clash. Eden Hazard has sought permission from Maurizio Sarri to report for duty at Chelsea a day later than scheduled .
The Lebron James Family Foundation is partnering with Akron (Ohio ) Public Schools, is for "students in Akron who need it most ". He was responding to remarks by then-Cavs star James and Curry, who both said they would not attend a White House reception.
During the almost seven days he was out alone, the man endured winds of up to 60km/h, freezing conditions and at times heavy snow. His emergency beacon signal was picked up in the United States and the co-ordinates relayed to New Zealand rescue authorities.
Jason Day, Tiger Woods locked in WGC duel
He s won here as many times as I ve won everywhere in my career. "I'm definitely going to miss that". Woods is playing the opening rounds of this tournament with a two-time victor this season, Jason Day.
Chelsea ready to offer bumper wage hikes to keep star players
The French midfielder's future continues to be the source of much speculation following reports of a bust-up with Jose Mourinho . Shrewsbury have put a £1m valuation on Congolese defender Toto Nsiala after rejecting a bid for the 26-year-old from Ipswich .