Canada Achieves Foreign Trade Gains; U.S. Still Sinking
Canada’s foreign trade picture brightened considerably in June. The nation’s merchandise trade balance recorded its biggest surplus since before the 2008-2009 recession. Furthermore, there have now been four surpluses in the past six months. During the decade prior to this year, Canada’s monthly goods trade balance spent a lot of time below the zero x-axis (Graph 1). (‘Merchandise’ trade is a fancier way of saying ‘goods’ as opposed to ‘services’ trade.)
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Stock Markets Speed Along, Oblivious to Blind Spots
U.S. Economy Stumbling Blocks
A year and a half into the coronavirus health crisis, the economies of the United States and Canada have been running into some stumbling blocks. In the United States, GDP growth in Q1 and Q2 of this year, at +6.3% and +6.5% respectively (quarter to quarter annualized), was looking pretty good, and not far out of line with the +7.0% forecast figure for the full year adopted by many analysts. But the third quarter has not been looking as sparky.
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