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Canada Q2 current account deficit narrows to C$8.63 billion

Credit: REUTERS/BEN NELMS

Canada's current account deficit narrowed to C$8.63 billion ($6.57 billion) in the second quarter from a revised C$13.22 billion deficit in the first quarter, on a lower trade deficit on both goods and services, Statistics Canada said on Thursday.

OTTAWA, Aug 27 (Reuters) - Canada's current account deficit narrowed to C$8.63 billion ($6.57 billion) in the second quarter from a revised C$13.22 billion deficit in the first quarter, on a lower trade deficit on both goods and services, Statistics Canada said on Thursday.

Seasonally adjusted figures in billions of Canadian dollars:

Q2 2020 Q1(Rev) Q1(Prev) Q2 2019

Current Account

-8.626 -13.216 -11.093

-8.915

Goods

-7.688 -8.677

-3.908

-2.062

Services

-0.171 -4.484

-5.905

-4.775

Investment Income

+0.726 +1.854

+0.609

-0.555

NOTE: Analysts had on average forecast a current account deficit of C$12.20 billion for the second quarter of 2020. Figures are seasonally adjusted.

($1=$1.3142 Canadian)

(Reporting by Dale Smith; Editing by Julie Gordon)((julie.gordon@tr.com; Reuters Ottawa Bureau +1 613 235 6745))

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

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