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UPDATE 1-Canada's Q3 current account gap falls as trade improves

Published 2015-11-30, 08:39 a/m
© Reuters. UPDATE 1-Canada's Q3 current account gap falls as trade improves

(Adds details on government transfers, paragraph 5)
OTTAWA, Nov 30 (Reuters) - Canada's current account deficit
shrank in the third quarter, but not by as much as expected, as
an improvement in trade was partly offset by a higher deficit on
cross-border investment flows, according to Statistics Canada
data released on Monday.
The current account gap fell to C$16.21 billion ($12.10
billion) in the third quarter from C$16.57 billion in the
second, sharply revised from an initially reported C$17.40
billion. The figures are seasonally adjusted.
The median forecast in a Reuters survey of economists was
for a C$15.30 billion deficit in the third quarter.
The deficit in the international transactions in goods
dropped to C$5.10 billion from C$6.38 billion, while the deficit
in trade in services fell by C$148 million to C$5.61 billion.
However, the investment income deficit rose to C$4.21
billion from C$3.62 billion. The third quarter also registered
an increase in international government transfers abroad,
reflecting things like foreign aid.
($1=$1.34 Canadian)

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