October GDP data to be released on Friday: Statistics Canada


Statistics Canada is set to release its latest economic data this morning.

The federal agency is expected to release actual gross domestic product figures for October.

In a preliminary estimate released last month, Statistics Canada said real GDP was essentially flat for the month, with the economy neither expanding nor contracting.

The agency said earlier signs were an increase in the public sectors, transportation and warehousing, construction and wholesale trade offset by declines in the manufacturing and mining sectors. mining, quarrying and oil and gas.

The report comes after 0.1% growth in September.

The economy is expected to decelerate as the Bank of Canada has worked to cool inflation by raising interest rates seven times this year.

This report by The Canadian Press was first published on December 23, 2022.

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