Canada: Trade deficit likely to improve to $2.9bn – TDS

Analysts at TD Securities suggest that Canada’s international trade for April will give an early look at economic activity for Q2.

Key Quotes

“TD looks for the trade deficit to improve to $2.9bn (market: $2.8bn) on weaker import activity, partially offset by a pullback in non-energy exports. We also see a risk of downward revisions to March on the heels of Q1 national accounts, which all else equal would imply a larger deficit for April.”