Global Markets: Canadian trade deficit widens

By MarketsFarm

WINNIPEG, Aug. 8 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

• Canada’s merchandise trade deficit widened to C$3.7 billion in June, from C$2.7 billion the previous month, as exports dipped by 2.2 per cent and imports were down by 0.5 per cent, according to a report from Statistics Canada.

• Chinese imports and exports were both down at a faster than expected pace in July, raising concerns over economic recovery in the country. Customs data showed that Chinese imports were down by 12.4 per cent on an annual basis in July, while exports dropped by 14.5 per cent.

• A powerful storm that hit the eastern United States on Monday left over a million homes and business without power, with at least two people confirmed dead. Thousands of flights were also delayed.

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