Published: 2023-12-21T15:42:46.000Z
Preview: Due December 22 - Canada October GDP - Strongest rise since May
Senior Economist , North America
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We expect Canadian GDP to increase by 0.2% in October, in line with a preliminary estimate made with September’s data and strongest since May. Risk is for lower rather than higher than the preliminary estimate.
We expect services to maintain a subdued trend with a rise of 0.1%, largely on retail, but goods to increase by 0.4%, a second straight increase to follow five straight declines. The goods increase is likely to be led by mining, in a rebound from a weak September, and construction. We do not expect manufacturing to repeat a 0.9% September rise, which was the first in four months. 
Under our forecast yr/yr GDP growth would rise to 1.0% from 0.6%.
