Canada's GDP remained unchanged at 0.0% in October, disappointing analysts' expectations of 0.2% growth. The economy has been stagnant for three consecutive months, and advance estimates for November show a slight increase of 0.1%. However, experts predict that the economy will continue to struggle and may even enter a mild recession.
Canada ’s economy showed no growth in October, Statistics Canada said on Friday, as GDP remained unchanged on a monthly basis at 0.0 per cent. Analysts had been expecting GDP to grow 0.2 per cent on a month-over-month basis. October marks the third straight month where economic growth was essentially unchanged. Statistics Canada says advance estimates for November showed that GDP increased 0.
1 per cent last month, as increases in manufacturing, transportation and warehousing, agriculture, forestry, fishing and hunting were partially offset by decreases in retail trade. "Canada’s economic engine continued to sputter in the fourth quarter," Royce Mendes, Desjardins' managing director and head of macro strategy, wrote in a research note on Friday. He says he expects the economy to post "virtually no growth" in the fourth quarter and continue to stagnate. "As more households and businesses feel the impacts of higher interest rates in 2024, we expect Canada to fall into at least a mild recession
Canada Economy Growth GDP Stagnant Recession
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