Canada GDP November 2015

Canada

Canada: GDP growth recovers in November

January 29, 2016

In November, monthly GDP grew 0.3% over the previous month in seasonally-adjusted terms. The tally was an improvement over the flat growth registered in October and was in line with market expectations. The reading suggests that Canada’s economy is picking up steam, and follows Septembers 0.5% contraction, and October’s flat growth. The manufacturing sector increased after contracting in September and October. Mining, quarrying and oil extraction activities also increased, after undergoing a severe contraction in September, and a muted expansion in October.

On an annual basis, GDP grew 0.2% in November, which contrasted October’s 0.2% contraction. The overall trend slid slightly as the annual average variation in GDP fell from 1.0% in October to 0.9% in November.

According to its January Monetary Policy Report, the Central Bank projects that the economy will grow 1.4% in 2016 and 2.4% in 2017. FocusEconomics Consensus Forecast panelists expect the economy to grow 1.7% in 2016, which is down 0.2 percentage points from last month’s estimate. For 2017, the panel expects the economy to expand 2.2%.


Author:, Economist

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Canada Monthly GDP November 2015 0

Note: Month-on-month changes of seasonally-adjusted GDP and year-on-year variation in %.
Source: Statistics Canada (SC) and FocusEconomics calculations.


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