Canadian Monthly Real GDP (Oct) - December 23, 2020
Canadian real GDP grew by 0.4% in October, following a 0.8% increase in September. This is the weakest rate of growth since May but marks the sixth consecutive monthly increase in GDP since the steepest drop in Canadian history was observed earlier this year. Sixteen of the twenty industries reported an increase in output. Leading the increase was professional services (1.0%), while accommodation and food services reported a steep decline (-3.9%) as patios closed up and heightened restrictions were implemented.
Early estimates from Statistics Canada indicate that real GDP grew by 0.4% in November. We continue to anticipate growth, albeit at a slower rate as the economy has once again been