US Markets

Canada Q2 current account deficit narrows to $6.38 billion

Canada's current account deficit narrowed to C$6.38 billion ($4.80 billion) in the second quarter from a revised C$16.63 billion deficit in the first quarter, on a lower deficit on goods, Statistics Canada said on Thursday. This was the lowest deficit since Canada returned to a deficit position in 2008.

(Corrects headline to show that deficit is C$6.38 billion, not $6.38 bln)

OTTAWA, Aug 29 (Reuters) - Canada's current account deficit narrowed to C$6.38 billion ($4.80 billion) in the second quarter from a revised C$16.63 billion deficit in the first quarter, on a lower deficit on goods, Statistics Canada said on Thursday. This was the lowest deficit since Canada returned to a deficit position in 2008.

Seasonally adjusted figures in billions of Canadian dollars:

Q2 2019 Q1(Rev) Q1(Prev) Q2 2018

Current Account

-6.384 -16.629 -17.347 -15.372

Goods

-0.309 -8.873

-9.143

-5.164

Services

-5.158 -5.889

-6.035

-6.832

Investment Income

+0.159 -0.768

-1.173

-1.979

NOTE: Analysts had on average forecast a current account deficit of C$9.80 billion in the second quarter of 2019. Figures are seasonally adjusted.

($1=$1.3287 Canadian)

(Reporting by Dale Smith) (Reporting by David Ljunggren) ((david.ljunggren@thomsonreuters.com; +1 613 235 6745; fax +1 613 235 5890; Reuters Messaging: david.ljunggren.reuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More