Ekonomické zprávy
23.12.2021

Canada’s economy grows in line with expectations in October

Statistics Canada announced on Thursday that the Canadian gross domestic product (GDP) expanded 0.8 percent m-o-m in October, following an upwardly revised 0.2 percent m-o-m growth (from +0.1 percent m-o-m) in September.

This represented the largest monthly advance since June (+0.8 percent m-o-m) and was in line with economists’ forecast. 

In y-o-y terms, the Canadian GDP grew 3.8 percent in October.

According to the report, both goods-producing (+1.6 percent m-o-m) and services-producing (+0.6 percent m-o-m) businesses supported the October advance.

Overall, 17 of the 20 industrial sectors recorded increases, led by arts, entertainment and recreation (+7.1 percent m-o-m), agriculture, forestry, fishing and hunting (+2.3 percent m-o-m), and manufacturing (+1.8 percent m-o-m). Meanwhile, management of companies and enterprises (-1.6 percent m-o-m), public administration (-0.7 percent m-o-m), and accommodation and food services (-0.5 percent m-o-m) posted declines.

It was also reported that preliminary data indicates a 0.3 percent m-o-m expansion in real GDP in November.

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