Monday, October 20th9.8°C
23836
22924

Deficit spikes to $2 billion in November

The Canadian dollar was higher early Friday after new data showed that the country's trade deficit with the world jumped in November.

The loonie rose 0.12 of a cent to 101.69 cents US before stock markets opened.

In the morning, a report from Statistics Canada said the country's trade deficit with the world ballooned to $2 billion in November from $552 million in October as merchandise imports rose 2.7 per cent and exports fell 0.9 per cent.

"It looks like trade will take another bite out of already weak economic growth," said Sal Guatieri, senior economist at BMO Capital Markets in a note.

"Total exports are now 6.3 per cent below year-ago levels, the worst performance in three years, while imports are flat."

Commodities were weaker, with February crude down 47 cents to $93.35 a barrel on the New York Mercantile Exchange.

Gold prices backtracked with the February contract down $4 to US$1,674 an ounce.

The Canadian Press


Read more Business News

23658


Recent Trending




Today's Market
S&P TSX14337.77+110.09
S&P CDNX811.351.22
DJIA16399.6719.26
Nasdaq4316.075+57.637
S&P 5001904.01+17.25
CDN Dollar0.8876+0.0017
Gold1249.80+5.1001
Oil81.58+0.20
Lumber330.40-0.50
Natural Gas3.679+0.009

 
Okanagan Companies
Pacific Safety0.10-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.12+0.01
Cantex0.055-0.025
Anavex Life Sciences0.191+0.001
Metalex Ventures0.050.00
Russel Metals32.28-0.07
Copper Mountain Mining1.99+0.05
Colorado Resources0.15+0.005
ReliaBrand Inc0.0111-0.0019
Sunrise Resources Ltd0.060.00
Mission Ready Services0.450.00

 



22980

FEATURED Property
18773011625 Tower Ranch Boulevard
5 bedrooms 3 baths
$575,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Keep it rubber side down

This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...


Big bank predicts rate hike

Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...


Experts share strategies in Kelowna

The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...

_





23545


Member of BC Press Council


22771