Canada: Real GDP contracts by 0.1% in November to match market expectation

Eren Sengezer FXStreet

"Real gross domestic product edged down 0.1% in November, partly offsetting an increase of 0.3% in October," Statistics Canada reported on Thursday.

Key takeaways from the press release

Decreases in wholesale trade, finance and insurance, manufacturing and construction more than offset gains in 13 of 20 industrial sectors.
The wholesale trade sector decreased 1.1% in November, more than offsetting October's growth, as six of the nine subsectors declined.
The manufacturing sector contracted 0.5% in November, the third decline in four months.
Retail trade decreased 0.3%, as 5 of 12 subsectors were down, continuing the weakness of recent months.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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