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

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“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.