Canada Trade Deficit Narrows | US PPI Data Softens
Published May 9, 2019
Canada’s trade balance data was released this morning with exports rising to 3.2% in March, led by higher exports of energy products. Imports also increased by 2.5% on greater intake of consumer goods. As a result, Canada’s merchandise trade deficit with the world narrowed to $3.2 billion in March.
President Trump stated that Beijing “broke the deal” that the US was negotiating at a rally yesterday evening. This comes right before the highly anticipated next round of negotiations, set to take place in Washington later today, as the delegation from China, including top negotiator Liu He, are prepared to conclude on the next stage of commitments.
US unemployment claims were published this morning, with seasonally adjusted initial claims advancing to 228,000. The 4-week moving average was 220250, an increase of 7750 from the previous week’s unrevised average of 212500.
US PPI data demonstrated a notable rise of 0.2% in April, with the final demand prices advancing to 0.6% in March and 0.1% in February. The principal leader of the April rise were prices for final demand goods, which climbed 0.3%.