Canada Swings to Goods-Trade Deficit of C$583 Million in October
Canada swung back to a trade deficit in October with a recovery in imports and softer exports thanks to pullback in energy shipments.
The country recorded a merchandise-trade shortfall of 583 million Canadian dollars, the equivalent of about US$421 million, Statistics Canada said Thursday.
The deficit was narrower than the C$1.5 billion gap economists anticipated, and came after Canada unexpected shifted to its first surplus in eight months in September, at an upwardly revised C$243 million.
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