More concerning news for Canadian economy.
Canada’s November trade deficit was $1.1 billion in November.
As noted by BNN Bloomberg, the number is “raising concerns about the strength of the domestic economy.”
Even worse, the trade deficit in October was massively revised upwards, from $1.1 billion to $1.6 billion.
“The report paints a picture of a fragile trade backdrop in Canada and while part of the weakness is attributable to the rail strike, it will be hard for policy makers to shrug this off given the recent disappointing numbers across jobs, manufacturing and retail sales reports.”
Canada’s trade deficit with China has now at $1.9 billion.
At this point, it’s becoming more and more difficult for the government and establishment press to hide the fact that Canada’s economy is dramatically weakening.
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