Canada’s trade deficit for August was 25% lower than expected by economists surveyed by Reuters, possibly explained by export growth of 0.6% vs. July. Not all is bright though – exports to the U.S. fell 2% on a month earlier. Further improvements in exports need a turnaround from autos. Global exports of autos and parts fell 8% in August. This may be the result of competition from increased global auto exports from Mexico and Japan, which increased 19% and 4% respectively in August, Panjiva research shows.
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