{"id":42628,"date":"2024-01-10T21:00:06","date_gmt":"2024-01-10T21:00:06","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/01\/10\/trade-could-add-to-canadas-q4-gdp-and-help-avoid-technical-recession\/"},"modified":"2024-01-10T21:00:06","modified_gmt":"2024-01-10T21:00:06","slug":"trade-could-add-to-canadas-q4-gdp-and-help-avoid-technical-recession","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/01\/10\/trade-could-add-to-canadas-q4-gdp-and-help-avoid-technical-recession\/","title":{"rendered":"Trade could add to Canada&#8217;s Q4 GDP and help avoid technical recession"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Economy<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Trade logged a fourth consecutive surplus<\/p>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Jan 10, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">3 minute read<\/span><\/p>\n<\/p><\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/01\/no0110trade.jpg?quality=90&amp;strip=all&amp;w=564&amp;h=423&amp;type=webp&amp;sig=Ey1ycLsMm3JaZNnRmDRnlw,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/01\/no0110trade.jpg?quality=90&amp;strip=all&amp;w=1128&amp;h=846&amp;type=webp&amp;sig=RWSWfJi2b5UeAocF3jOcAQ 2x\" type=\"image\/webp\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/01\/no0110trade.jpg?quality=90&amp;strip=all&amp;w=564&amp;h=423&amp;type=jpg&amp;sig=bAmzIM6CCANJauOtB3wJIQ,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/01\/no0110trade.jpg?quality=90&amp;strip=all&amp;w=1128&amp;h=846&amp;type=jpg&amp;sig=_nkhWKdp_hD4v6GQniPLUA 2x\" type=\"image\/jpeg\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/01\/no0110trade.jpg?quality=90&amp;strip=all&amp;w=472&amp;h=354&amp;type=webp&amp;sig=g3snnlmrWbrNujf-LnWJ4g,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/01\/no0110trade.jpg?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=webp&amp;sig=fyns-ZSRe9xugQLqznUfzw 2x\" type=\"image\/webp\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/01\/no0110trade.jpg?quality=90&amp;strip=all&amp;w=472&amp;h=354&amp;type=jpg&amp;sig=tnrmUrt2ZVhlMUJuLSDw0w,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/01\/no0110trade.jpg?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=jpg&amp;sig=DOVp7gZMTqZZGX0iN8byAQ 2x\" type=\"image\/jpeg\"><source media=\"(max-width: 767px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/01\/no0110trade.jpg?quality=90&amp;strip=all&amp;w=288&amp;h=216&amp;type=webp&amp;sig=lpZRlRhpStIRtMkdhQ3zQQ,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/01\/no0110trade.jpg?quality=90&amp;strip=all&amp;w=576&amp;h=432&amp;type=webp&amp;sig=2lR8Y0op6Ow7y_HhrzyjIg 2x\" type=\"image\/webp\"><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">A trade surplus of $1.6 billion was recorded in November, according to Statistics Canada.<\/span> <span class=\"credit\">Photo by Darryl Dyck\/The Canadian Press files<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">Canada\u2019s trade logged a fourth consecutive surplus with economists expecting that will provide a boost to fourth-quarter gross domestic product and help the economy avoid a technical recession.<\/p>\n<p data-async=\"\">A surplus of $1.6 billion was recorded in November, according to Statistics Canada on Jan. 9, missing analyst estimates for a surplus of $2 billion. The agency also revised its trade numbers for October to a surplus of $3.2 billion from $2.97 billion.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment2100539952963337094316846189903872\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div class=\"article-block article-block-bg article-content__sign-in-group hidden\" data-aqa=\"identity-sign-in\" data-async=\"\" id=\"article-block\">\n<section class=\"row\">\n<header class=\"identity-intro col-xs-12 col-md-6 flex-justify-center\">\n<div class=\"col-xs-12 col-sm-10 col-md-10\"><img loading=\"lazy\" decoding=\"async\" alt=\"Financial Post\" class=\"market-logo\" height=\"37\" src=\"https:\/\/dcs-static.gprod.postmedia.digital\/15.2.1\/websites\/images\/identity\/logo-identity-fp.svg\" width=\"280\"\/><\/p>\n<div class=\"intro-body__premium hidden\">\n<p>THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\n<p class=\"identity-intro__description\">Subscribe now to read the latest news in your city and across Canada.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman, Victoria Wells and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__register hidden\">\n<p>SUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Subscribe now to read the latest news in your city and across Canada.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman, Victoria Wells and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>Import value and volumes rose 1.9 per cent and 2.1 per cent, respectively, while exports pulled back 0.6 per cent in value \u2014 the first decline since June 2023 \u2014 and 0.3 per cent by volume.<\/p>\n<p>\u201cIt looks like trade will add to fourth-quarter GDP growth, though we still have another month of data (and accompanying revisions) to go,\u201d Shelly Kaushik, an economist with Bank of Montreal, said in a note on Jan. 9.<\/p>\n<p data-async=\"\">BMO estimates fourth-quarter GDP growth will come in flat, while CIBC Capital Markets estimates GDP will come in at 0.8 per cent annualized growth rate, matching the Bank of Canada\u2019s projection in its most recent Monetary Policy Report.<\/p>\n<p>In the third quarter, Canada\u2019s GDP contracted 1.1 per cent. A technical recession occurs when growth contracts in two consecutive quarters.<\/p>\n<p data-async=\"\">\u201cExports for the quarter as a whole still look set to rise by roughly four per cent annualized owing to a strong start to the quarter, while imports will show a decline, making net trade a contributor to GDP growth,\u201d economist Katherine Judge at CIBC World Markets said in a note on Jan. 9.<\/p>\n<p data-async=\"\">Export data for November is \u201ca bit stronger than the overall decline might suggest,\u201d said Stephen Brown, deputy chief economist for North America at Capital Economics Ltd., with most of the drop attributed to a 17 per cent month-over-month decline in aircraft exports, while metal and non-metallic mineral product exports fell 6.5 per cent.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot19 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-headlinenews background--primary-light-gradient\" aria-labelledby=\"FinancialPostTopStories6618238423993829768708948173520896\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_HeadlineNews\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" alt=\"Top Stories\" loading=\"lazy\" src=\"https:\/\/dcs-static.gprod.postmedia.digital\/15.2.1\/websites\/images\/newsletters\/icon-fp-topStories.svg\"\/><\/div>\n<div>\n<p>Top Stories<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Get the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_HeadlineNews\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. 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Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment9728338009396659842620832358596608\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>Exports rose in seven of 11 categories, but only a combined total of one per cent, said CIBC\u2019s Judge.<\/p>\n<blockquote>\n<p>Tougher times lie ahead<\/p>\n<p>Stephen Brown<\/p>\n<\/blockquote>\n<p>However, economists are forecasting December trade data to mark a turning point for Canada\u2019s economic picture.<\/p>\n<p>\u201cTougher times lie ahead, with export orders seemingly falling fast in December,\u201d said Brown, citing survey data from the S&amp;P Manufacturing PMI (purchasing managers\u2019 index) showing export orders slumping to 44.9 in December. An index reading below 50 indicates contraction.<\/p>\n<p>On the import side, a 2.2 cent drop in imports of consumer goods, \u201cleaves that category six per cent below year-ago levels,\u201d and is \u201ca sign of weak domestic demand,\u201d Judge said.<\/p>\n<p>Consumer goods imports also fell in October, economist David Rosenberg, head of Rosenberg Research &amp; Associates Inc., said in his newsletter on Jan. 10.<\/p>\n<p>\u201cA large share of Canadian consumption relies on imported goods, so that\u2019s a strong signal regarding the direction of consumer demand,\u201d he said.<\/p>\n<p>There were other signs of slowing economic activity, including a 1.5 per cent slowdown in motor vehicle imports.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment2144089220721926264442053384470528\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>That, coupled with the deceleration in consumer goods imports, signals that \u201cretailers at least are now trying to run down their inventories,\u201d Brown said, as the ongoing slowdown in consumer spending and higher interest rates make it too expensive to hold onto inventory.<\/p>\n<p>\u201cIt makes sense to start trimming those inventories to cut costs,\u201d he said in an email.<\/p>\n<p>While the trade reflected a more difficult economic picture, it also contained some encouraging signs on inflation, Rosenberg said, noting that the import price index fell <span>0.2 per cent month over month and is up \u201ca mere\u201d 0.5 per cent year over year, while the consumer goods segment is down 1.6 per cent year over year. <\/span><\/p>\n<section aria-labelledby=\"moreTopicLabel24271757462946960172627995394048\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li class=\"more-topic__item\" data-carousel-item=\"\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"U.S. President Joe Biden, left, and former president Donald Trump.&#10;\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/01\/joe-biden-donald-trump-0106-ph.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=sVZvBeoFbaQofWIWH1wmCw\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/01\/joe-biden-donald-trump-0106-ph.jpg?h=96&amp;strip=all&amp;quality=5&amp;sig=Zuuo2FyrxYWShFK1UzeZYA\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/01\/joe-biden-donald-trump-0106-ph.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=sVZvBeoFbaQofWIWH1wmCw, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/01\/joe-biden-donald-trump-0106-ph.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=hXfCd6nETu1WwTQQPTY-dg 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/01\/joe-biden-donald-trump-0106-ph.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=VXnYceDcNwSGdkgyhX12Uw 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Joe Biden not so different from Donald Trump on trade<\/span><\/p>\n<\/li>\n<li class=\"more-topic__item\" data-carousel-item=\"\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"The High Commission of India in Ottawa. Trade deal talks halted in September after Prime Minister Justin Trudeau said Canada would pursue allegations of a potential link between India's government and the killing of Hardeep Singh Nijjar, a Canadian citizen who headed the Guru Nanak Sikh Gurdwara, outside a Sikh temple in Surrey, B.C.&#10;&#10;\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/india-canada-1113-ph.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=JBSpz24iPEXmmrk73FWHQQ\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/india-canada-1113-ph.jpg?h=96&amp;strip=all&amp;quality=5&amp;sig=Ay9uSYaQ04C4JL-JSMIiCA\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/india-canada-1113-ph.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=JBSpz24iPEXmmrk73FWHQQ, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/india-canada-1113-ph.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=XfgCYfSiypwZeDNagkTnWw 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/india-canada-1113-ph.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=LS2cUT5DGweq0hoenh6C2g 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Business between Canada, India continues despite tensions<\/span><\/p>\n<\/li>\n<li class=\"more-topic__item\" data-carousel-item=\"\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"Exports of goods and services fell 1.3 per cent in the third quarter.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/gdp-2-1130-ph.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=jMkFoO5xC-ADSN0z_EGEHg\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/gdp-2-1130-ph.jpg?h=96&amp;strip=all&amp;quality=5&amp;sig=pKqSjz1REZlrHyURLbcycg\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/gdp-2-1130-ph.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=jMkFoO5xC-ADSN0z_EGEHg, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/gdp-2-1130-ph.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=8cOXw4h1GX5d-Psk3LPDCQ 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/gdp-2-1130-ph.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=d2REeIRDaR4chnTf7eIv5g 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Canada dodges technical recession but struggles to grow<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>Export prices fell 0.4 per cent in November after falling 0.7 per cent in October due to declining oil prices.<\/p>\n<p>\u201cAll in, a supportive report for the BoC\u2019s shift away from its hawkish posture. The likelihood that the bank cuts rates ahead of the (United States Federal Reserve) and the generally soft underlying details within this report pose dual downside risks for the Canadian dollar,\u201d Rosenberg said.<\/p>\n<p data-async=\"\"><em>\u2022 Email: gmvsuhanic@postmedia.com <\/em><\/p>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Trade could add to Canada&#8217;s Q4 GDP and help avoid technical recession<\/a><br \/>\n<br \/>2024-01-10 21:00:06<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Economy Trade logged a fourth consecutive surplus Published Jan 10, 2024 \u00a0\u2022\u00a0 3 minute read A trade surplus of $1.6 billion was recorded in November, according&#8230;<\/p>\n","protected":false},"author":2,"featured_media":42629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-42628","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/42628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=42628"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/42628\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/42629"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=42628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=42628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=42628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}