Trade deficit grew to $3.3 billion in May: StatsCan
OTTAWA -- Canada's trade deficit grew to $3.34 billion in May from $3.0 billion in April, increasing chances the Bank of Canada will cut its key interest rate next week, economists said Tuesday.
BMO senior economist Benjamin Reitzes said Canada's trade balance is on pace for a record deficit in the second quarter.
"This report caps a run of soft data over recent months and suggests that trade will not be nearly as positive as anticipated at the start of the year," Reitzes said.
READ MORE: http://www.ctvnews.ca/business/trade-deficit-grew-to-3-3-billion-in-may-statscan-1.2457430
BMO senior economist Benjamin Reitzes said Canada's trade balance is on pace for a record deficit in the second quarter.
"This report caps a run of soft data over recent months and suggests that trade will not be nearly as positive as anticipated at the start of the year," Reitzes said.
READ MORE: http://www.ctvnews.ca/business/trade-deficit-grew-to-3-3-billion-in-may-statscan-1.2457430
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