OTTAWA - Canada posted its first trade surplus since last summer in May as the auto sector helped boost exports to a record level and the economy continued to show signs of rebounding. Statistics Canada said Wednesday a jump in exports helped the economy to a $762-million international merchandise trade surplus in May. The surplus was the first since the economy eked out a $10-million surplus in July 2018. “Still, a solid report is a solid report, with today’s data revealing an encouragingly broad-based May export picture,” he said. Benjamin Reitzes, Canadian rates and macro strategist at BMO Capital Markets, said the Canadian economic data continues to outperform despite the increasingly dour global backdrop.

Source: thestar July 03, 2019 13:05 UTC