Consumption in Canada
Canada - Consumption
Economic activity increases in October; flash estimate suggests further growth in November
GDP increased 0.1% in month-on-month seasonally-adjusted terms in October, which followed September's 0.2% increase. The result marked the worst reading since January, but was still the ninth straight month of growth. A stronger services sector—the entertainment and hospitality sectors performed particularly well—more than offset weaker industrial activity.
On an annual basis, GDP rose at a softer pace of 3.1% in October (September: +3.9% yoy).
According to a flash estimate, the economy expanded a further 0.1% in November, with increases in the utilities, wholesale, and finance and insurance sectors partially offset by decreases in the construction, retail, and mining sectors.
FocusEconomics analysts project growth of 0.4% in 2023, which is down 0.3 percentage points from last month. In 2024, our analysts see growth at 1.6%.
Canada - Consumption Data
|Consumption (annual variation in %)||2.3||1.9||3.7||2.2||1.6|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||1.70||1.00 %||Dec 31|
|Exchange Rate||1.30||0.15 %||Jan 01|
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January 25, 2023
On 25 January, the Bank of Canada (BoC) raised its target for the overnight rate from 4.25% to 4.50%, and announced it was continuing to reduce the stock of outstanding government bonds. The rate hike was justified by excess demand and inflation which is still over double the upper bound of the Bank’s 1.0–3.0% target range.
January 17, 2023
Inflation dropped to 6.3% in December from November’s 6.8%, slightly below market expectations.
January 1, 2023
The S&P Global Manufacturing Purchasing Managers' Index (PMI) fell to 49.2 in December from November's 49.6.
December 23, 2022
GDP increased 0.1% in month-on-month seasonally-adjusted terms in October, which followed September's 0.2% increase.
December 18, 2022
According to the Teranet-National Bank Composite House Price Index, house prices fell 1.3% month on month in November, following October’s 0.8% decrease.