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Current Account: Canadian Problems Worsen

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Editor’s remarks:
With every good number coming out of the US economy, the Canadian government releases another bad one. The Canadian current account, which is the balance of trade along with transfer payments in and out of the country, hit a nearly six-year low. The combination of Alberta’s continuing suffering and low motor car sales has seen Canada go through a difficult 2016. It does not look set to change with its new young Prime Minister focusing on building its white collar jobs and developing the professional sector. However, with Canada’s worsening manufacturing sector, rising government spending and poor deficit, this method may not be the most effective. Canada has long touted its vast size and acceptance. Perhaps boosting immigration and encouraging growth of small business might be what Canada really needs.

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