Canada’s GDP grew 0.2% mom in November, above expectation of 0.1% mom. Growth was primarily driven by goods-producing industries, which marked the highest expansion rate since January 2023 at 0.6% mom.
Services-producing industries experienced a modest increase of 0.1% mom during the same period. This slight rise came despite the adverse impacts of strikes within Quebec’s public sector, which began in November.
Overall, 13 of 20 industrial sectors increased in November.
Additionally, preliminary data suggests continued upward trend, with an anticipated increase of 0.3% mom in real GDP for December.
