Canadian Trade Suggests Tailwind for GDP Growth in August
Dow Jones
Oct 06
1040 ET - The rebound in Canada's trade surplus in August provides some upside risk to Statistics Canada's advance estimate for a 0.2% growth in monthly GDP, though the surplus is likely to narrow from here as the renewed trade war bites, Capital Economics' Bradley Saunders says. The economist says the sharply wider surplus owes a fair bit to higher oil prices and frontrunning ahead of the Trump administration's Section 338 tariffs. Exports rose 2.5% on-month, completely reversing July's decline, but Saunders says the impact of tariffs should partially reverse in September.
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