Thursday, August 28th19.9°C
22663
22588

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

23015


Recent Trending




Today's Market
S&P TSX15558.17-44.48
S&P CDNX1022.373.03
DJIA17079.57-42.44
Nasdaq4557.695-11.927
S&P 5001996.74-3.38
CDN Dollar0.9208+0.0001
Gold1281.70-2.1001
Oil94.51-0.04
Lumber349.40+2.40
Natural Gas3.965+0.054

 
Okanagan Companies
Pacific Safety0.195-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.190.00
Cantex0.08+0.01
Anavex Life Sciences0.240.00
Metalex Ventures0.075-0.005
Russel Metals36.39-0.21
Copper Mountain Mining2.91-0.05
Colorado Resources0.180.00
ReliaBrand Inc0.099-0.016
Sunrise Resources Ltd0.0250.00
Mission Ready Services0.25+0.01

 



21623

FEATURED Property
1953754633 Fuller Ave.
2 bedrooms 3 baths
$625,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


How much mortgage should you carry?

There are several things to consider when deciding how much home to buy. 1. Draw up a budget including the new mortgage payments. While the rules used by most lenders require that the mortgage paym...


What is a journey without a destination?

Photo: ContributedI would call it a joy ride... You see a planned project or business has a destination. It may be an ongoing revenue stream, it may be a business value or an exit strategy. If you don...


Joint accounts: what you need to know!

Establishing a joint account may seem like a great strategy at first glance. However, there are many factors that must be considered before taking this action. This article will explore the use of &ls...

_





23002


Member of BC Press Council


22854