Canada Trade Deficit Declines

Statistics Canada says the country’s trade deficit for August declined unexpectedly to $1.9 billion as exports to countries other than the United States picked up, AAP reported. The deficit for August compared with a revised figure for July that showed a deficit of $2.2 billion compared with the initial report of a deficit of $2.5 billion. Economists had expected the August deficit would grow to $2.6 billion, according to Thomson Reuters. TD Bank economist Dina Ignjatovic said that after a weak start to the year, exports appear to be moving in the right direction, albeit slowly.