Priorw as -7.18B (revised to -8.31B)Goods trade balance +$12.2B vs -$6.4B in Q1 — largest since 2008Services surplus $26.3m vs $472.1m priorInvestment income +0.5B vs +1.0B priorForeign investment in Canadian securities +100.6B, led by +$80.8 in bonds
That’s a tailwind for GDP. This was the first current account surplus since the second quarter of 2022 and the largest since 2005. Strong gains in goods exports moved the trade in goods balance from a deficit to a large surplus and were the main contributor. It was largely driven by energy products (+27.4%) but it was broad. Auto exports also rose 19.3%.
This is an impressive report.
This article was written by Adam Button at investinglive.com.