Technical Analysis

Canadian October monthly GDP +0.1% vs +0.1% expected

  • Prior was +0.1% (revised to +0.2%)
  • Services +0.3%
  • Goods -0.7%
  • Advance November GDP “essentially unchanged”
  • Full report

This week’s Canadian CPI data ran hot but you can see the cooling in these numbers. That said, digging into the numbers the mining sector was a drag here but that won’t last. More worrisome is a 0.7% contraction in manufacturing led by a 1.1% decline in durable goods manufacturing. It’s the fourth decline in six months.

It’s good to be a government worker

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