Canada Posts 2nd-Largest Trade Deficit Ever as Exports Slide
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Canada’s merchandise trade deficit widened to the second-largest on record in May, more evidence that weakness that started with an oil shock has extended beyond the first quarter.
The deficit widened to C$3.34 billion ($2.63 billion) from C$2.99 billion in April and was second only to the record C$3.57 billion shortfall in March, Statistics Canada said Tuesday in Ottawa. Exports fell for a fifth month.