Canada GDP grew 0.7% mom in November, above expectation of 0.4% mom. This is the seventh consecutive monthly gain. Total economic activity was still around -3% below the pre-pandemic level in February. Good-producing industries grew 1.2% mom while services-producing industries rose 0.5% mom. 14 of 20 industrial sectors posted gains. Meanwhile, preliminary information indicates an approximate 0.3% mom GDP growth in December.
Also released, Canada IPPI rose 1.5% mom in December versus expectation of 1.4% mom. RMPI rose 3.5% mom versus expectation of 2.5% mom.
