2nd quarter -15.88 billion revised to -16.7B
- current account deficit falls to -10.34 billion from -16.7 billion in the 2Q. It was also less than the -12.00B expected
- foreign investment rose to 9.3 billion versus 8.8 billion in the previous quarter
- goods and services account balance -8.0B versus -12.7B in the previous quarter
- Net goods trade deficit -1.72 billion versus -5.67 billion previous quarter
- net services trade deficit -6.29B vs -6.98B previous quarter
- foreign direct investment rose to 10.8B vs 7.7B previously. Net investment in mining and energy totaled 3.8 billion after decline of -1.3B in the 2nd quarter
Trudeau is looking to lure foreign investment via tax breaks for companies buying new equipment. The effort is in reaction to the US tax cuts. The Bank of Canada is also counting on investment spending to sustain economic growth as consumers are being pressured by rising interest rates.
