Canada May trade balance data:
- First surplus since Dec 2016
- Prior was -$0.97B
- Imports +1.0%
- Exports +4.6% to record $53.1B
- 9 of 11 export sectors rise
- Exports +8.6% y/y
- Exports of motor vehicles and parts +12.4%
- Exports of energy +5.0% on higher prices
- Trade surplus with US at highest in a decade, widening to $5.9B from $4.4B in May (shhhhh, don't tell Trump)
The jump in exports was in the automotive sector, the same part of the economy that also boosted wholesale trade numbers for April. The increased production was partly due to the resumption of activities
at some assembly plants following atypical shutdowns in April, Statistics Canada said. Still through the first five months of the year, exports of vehicles were up 2.8% y/y.
