November 28, 2013 / 1:47 PM / 6 years ago

Canada third-quarter current account gap falls, second-quarter gap much higher

A man holds the new Canadian 100 dollar bill made of polymer in Toronto November 14, 2011. REUTERS/Mark Blinch

OTTAWA (Reuters) - Canada’s current account deficit shrank in the third quarter, but the decline was from a second-quarter deficit that was substantially larger than previously reported, Statistics Canada said on Thursday.

The deficit fell to C$15.47 billion ($14.59 billion) in the third quarter from C$15.92 billion in the second, which was revised from C$14.58 billion.

The improvement from the second to the third was due a lower deficit on trade in both goods and services, and in investment income.

The reason for the upward revision for the second quarter, despite higher exports of both goods and services than first reported, was an increase in the deficit in investment income.

Reporting by Randall Palmer; Editing by Leslie Gevirtz

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