Current account data for the third quarter

  • The third-highest reading on record
  • Prior was -$16.32B
  • Goods -$8.93B vs -$5.29B prior
  • Services -$6.13B vs $-6.13B prior
  • Investment income -$2.9B vs -$3.04B

These numbers are a key part of Friday's GDP report. It's not a great situation for Canada, which has booked deficits for 36 straight quarters, totaling more than $500B.

The drop in goods was due to a sharp drop in Canadian exports in Q3.