Canada's current account deficit (on a seasonal adjusted basis) narrowed by $3.2 billion in the fourth quarter to $7.3 billion. This reduction reflected a higher investment income surplus and—to a lesser extent—a lower trade in goods and services deficit. Investment income receipts were up in the fourth quarter after three consecutive quarterly reductions, while payments were down for the fourth quarter in a row. At the same time, the trade in goods deficit edged down but remained high historically, while the trade in services balance continued to record an unusual surplus position. In the financial account ... (full story)