While Canada's external merchandise trade surplus shrunk unexpectedly in March, from a bigger than previously estimated surplus in February, the more discouraging news was the declines in export and import volumes. For the first quarter overall, it now seems that net export's contribution to growth was neutral and we still estimate that GDP grew by close to 2.0% annualised.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.