This is a final data point ahead of the Bank of Canada decision.
- Prior +2.04B
- Exports C$ 65.98B versus 67.03B last month
- Imports C$ 63.01B versus 64.99B last month
- Exports +0.1% vs +2.7% prior
- Imports -2.8% vs +1.0% prior
This is a good number for Q4 growth but it's not ideal when trade numbers beat due to falling imports as it highlights a slowdown in demand.
The Bank of Canada decision is due at 10 am ET.
Details:
- Imports fell in 8 of 11 product sectors led by metal and non-metallic mineral products, which declined 14.7%
- Imports of motor vehicles and parts fell 5.8% in October, which is likely related to the auto strike
- Exports of aircraft and other transportation equipment and parts rose 15.0%
- Energy product exports -1.2%
