Gross Domestic Product (GDP) for August, announced by Statistics Canada on October 30, remained almost unchanged from the previous month, marking two consecutive months of stagnation.
- Nine out of 20 industries increased. Retail increased by 1.21 TP3T, and manufacturing by 0.31 TP3T.
- On the other hand, the total service sector decreased by 0.11 TP3T as the wholesale and public administration sectors declined. The goods production sector increased by 0.11 TP3T.
- Although September figures are still preliminary, it is estimated that it will decrease by 0.11 TP3 T. Weakness in the manufacturing and resource sectors has been cited as the cause.
- Based on this provisional figure, the third-quarter economic growth rate is estimated to be 0.31 TP3T. However, this is not the final figure, and the official September data and third-quarter GDP are scheduled to be released on November 30.
- For households and self-employed individuals, this can be interpreted as a signal that the pace of economic recovery will be slow for the time being, so it would be advisable to check official announcements rather than rushing spending or investment decisions.
Source: The Northern Current
https://thenortherncurrent.com/canada-august-gdp-flat-september-estimate-october-30-2026 |
