Economists Expecting Trade Deficit & Weak GDP Numbers For Canada

GDP numbers and trade flow information will be released this week.

According to a Bloomberg survey, economists are expecting a trade deficit when the trade flow numbers are released this week.

Additionally, the economists expect GDP growth of just 0.1% when those figures are released, also this week.

Last month, exports in 10 of 13 sectors increased, but much of that gain is expected to be reversed:

‘“Export strength was broad-based in May, with real exports higher in 10 of 13 categories reported by Statistics Canada,” said Robert Both, a macro-strategist at Toronto-Dominion Bank. However, “with further gains in energy products unlikely due to curtailment and transportation bottlenecks, we look for a giveback in non-energy exports to drive a decline in export volumes for June,” he said.”

Recent economic numbers have shown a variety of concerning trends, including job losses, GDP growth rates that are actually negative when accounting for population increase, rising debt, increasing bankruptcies, and weak investment – all of which contradicts the false ‘positive’ narrative the Liberal government and establishment press has tried promoting about the economy.

Spencer Fernando

Photo – YouTube