Posted AT 6:00 AM EDT on 16/04/08
Trade deficits: Don't fret … celebrate
Canada's current account went negative (by more than $500-million) in the final quarter last year – after approximately 10 years of consecutive quarterly surpluses. Merrill Lynch says this deficit will reach $36-billion by the end of the final quarter next year. This negative number would be 30 per cent larger than last year's positive number ($24-billion). Does this dramatic reversal in fortune warrant national fretting and frowning? Not at all. We should rejoice.
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