Canada’s GDP rose 0.1% mom in September, matched expectations. Goods-producing industries grew 0.3% mom, leading the growth with a first increase in six months. Services-producing industries were essentially unchanged. Overall, 10 of 20 industrial sectors increased. Advance information indicates that GDP rose 0.2% mom in October.
In Q3, GDP fell -0.3% qoq, reversing Q2’s 0.3% qoq growth. The decrease in international exports and slower inventory accumulation were partially offset by increases in government spending and housing investment. Final domestic demand increased 0.3%, following a similar increase in the second quarter.
