Canadian GDP Rises 0.4% in November

The output of Canada’s economy expanded by 0.4 per cent in November, led by mining, oil and gas, manufacturing and construction.

Statistics Canada reported Tuesday that the monthly expansion was a reversal of October’s data, when the economy contracted by about 0.3 per cent.

Industries that produce goods led the way with a 0.9 per cent expansion. The service sector was a relative laggard, however, expanding by just 0.2 per cent.

The numbers are “consistent with an economy that is churning out modest underlying growth,” BMO economist Robert Kavcic said, “but that’s still a meaningful improvement from conditions that we saw going into 2016.”

via CBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza