Exports rose 4.6 per cent, another sign that the economy is stabilizing. Exports to the U.S. increased by 3.7 per cent to $39.3 billion. Canada’s trade surplus with the country is now $5.9 billion, the highest it’s been since October 2008. This is the country’s fourth trade surplus since oil prices started dropping in 2014. The Canadian dollar is at a near eight-month high on the news. (Bloomberg, Reuters)

Talking point: Canadian exports are showing positive signs after a tough end to 2018. In addition to falling oil prices, exports had dropped by 8.1 per cent during the second half of last year, causing Canada to experience two consecutive quarters of stagnant growth. Though exports of crude oil and refined energy products both grew, the recovery is broader—of the 11 sectors Statistics Canada tracks, nine increased in exports in May. The largest gains were in motor vehicle shipments, which increased 12.4 per cent. Other factors also point toward a strengthening economy, including better-than-expected GDP growth of 0.3 per cent in April.