Investing.com – Canada’s current account deficit widened more-than-expected in the third quarter, marking the eighth consecutive quarter of deficit, official data showed on Monday.
In a report, Statistics Canada said the country’s current account deficit widened to a seasonally adjusted CAD 17.5 billion, compared to a deficit of CAD 13.0 billion in the second quarter, whose figure was revised up from CAD 11.0 billion.
Analysts had expected Canada’s current account deficit to widen to CAD 15.2 billion in the third quarter.
According to the data, the value of Canadian imports increased by CAD 3.6 billion in the third quarter, while the value of exports fell by CAD 0.7 billion in the third quarter.
Following the release of the data, the loonie was down against the U.S. dollar, with USD/CAD gaining 0.12% to hit 1.0203.
In a report, Statistics Canada said the country’s current account deficit widened to a seasonally adjusted CAD 17.5 billion, compared to a deficit of CAD 13.0 billion in the second quarter, whose figure was revised up from CAD 11.0 billion.
Analysts had expected Canada’s current account deficit to widen to CAD 15.2 billion in the third quarter.
According to the data, the value of Canadian imports increased by CAD 3.6 billion in the third quarter, while the value of exports fell by CAD 0.7 billion in the third quarter.
Following the release of the data, the loonie was down against the U.S. dollar, with USD/CAD gaining 0.12% to hit 1.0203.