Friday, January 13, 2012
American Trade Funds Deficit with Rest of the World. Canada Trade Surplus Balloons to $1 Billion in November.
Analysts on average had been expecting a DEFICIT of about $500 million, so this turnaround is great news for the economy. Where did the burst come from? Energy exports climbed over 6 percent to around $6.4 billion. In particular, exports to the United States climbed by almost 2 percent, creating a surplus with our southern neighbour of over $4.5 billion. So what does this mean? Basically our sales to the United States are funding a deficit with the rest of the world.... Thank You American consumption!