OctaFX | OctaFX Forex Broker
Open trading account
Back

Canada: Domestic growth trends are slowing – RBC

The December trade deficit narrowed but there are some details behind these numbers that are raising some doubts to Nathan Jazen, a senior economist at the Royal Bank of Canada. 

Key quotes

“The bulk of the 1.9% increase in exports in December came from a bounce-back in energy shipments after disruptions to a major pipeline reduced exports in November. Excluding energy products, export volumes were little changed, by our count, in December but were still up less than a percent from a year ago and declined about 3% at an annualized rate in Q4 as a whole.”

“Concerns in Canada have been shifting from external to domestic growth worries. And imports were also soft in Q4, with volumes down almost 5% on an annualized basis in the quarter as a whole.” 

“The pullback is still not a good sign for near-term domestic demand growth. Equipment imports fell for a fifth straight quarter in Q4 and declined almost 3% excluding price-effects in December.”

US: Markit Composite PMI improved to 53.3 in January from 52.7

The economic activity in the US private sector expanded at a more robust pace in January than it did in December with the IHS Markit's Composite PMI r
Read more Previous

United States ISM Non-Manufacturing New Orders Index below expectations (58) in January: Actual (56.2)

United States ISM Non-Manufacturing New Orders Index below expectations (58) in January: Actual (56.2)
Read more Next
Start livechat