Economy

US Economy Wins the G-7 Race to Return to Normal – BNN

Published

3 years ago

August 30, 2021

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

The U.S. is the first Group of Seven economy to return to a pre-pandemic level of output, leaving behind European peers that suffered sharper contractions when Covid-19 struck. According to the OECD’s second quarter GDP data, its 38 members as whole also haven’t reached pre-crisis readings, even as growth for the group accelerated to 1.6% in the period from 0.6% at the start of the year. While the U.K. recorded the G-7’s strongest second-quarter expansion, it has the largest gap to close to get back to activity levels seen before the coronavirus outbreak.

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Economy

September merchandise trade deficit narrows to $1.3 billion: Statistics Canada

Published

6 hours ago

November 5, 2024

Anne Joseph

OTTAWA – Statistics Canada says the country’s merchandise trade deficit narrowed to $1.3 billion in September as imports fell more than exports.

The result compared with a revised deficit of $1.5 billion for August. The initial estimate for August released last month had shown a deficit of $1.1 billion.

Statistics Canada says the results for September came as total exports edged down 0.1 per cent to $63.9 billion.

Exports of metal and non-metallic mineral products fell 5.4 per cent as exports of unwrought gold, silver, and platinum group metals, and their alloys, decreased 15.4 per cent. Exports of energy products dropped 2.6 per cent as lower prices weighed on crude oil exports.

Meanwhile, imports for September fell 0.4 per cent to $65.1 billion as imports of metal and non-metallic mineral products dropped 12.7 per cent.

In volume terms, total exports rose 1.4 per cent in September while total imports were essentially unchanged in September.

This report by The Canadian Press was first published Nov. 5, 2024.

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