Canada’s GDP unchanged in October, says StatsCan

We are getting a better picture of the economy this morning statistics Canada has released the gross domestic product figures for October Anise hadari is following the story from Calgary he takes us through those numbers the size of the Canadian economy actually stayed the same in October as the month before

According to Stats can so what they call the Real gross do domestic product is unchanged it grew 0.0% in October so um not at all the GDP is a measure of all the goods and services that the can Ian economy produces but not everything was flat uh there were some that went up

Some that went down and it that’s where it averaged out industries that produce services that went up a smidge 0.1% manufacturing though went down down 6% retail trade went up 1.2% in October now that can be say said to match some of the other reports we’ve seen on retail

Spending but remember the numbers that we’re talking about here are looking at October not Christmas season shopping now one thing that was pretty interesting to note in the numbers we got this morning real estate agents and Brokers their output fell for the fourth month in a row it was down 6.8% in

October now that’s because real estate markets in some of Canada’s biggest cities have been cooling off as well as interest rates were going up uh if we look a little bit further ahead to November statistics Canada is predicting that uh in November things will inch up

Or will have inched up I should say .1% now if that comes true it could mean that the country is still on track to avoid a recession by the definitions that economists use but that all depends on what happens in the next month or two we will get those numbers for November

Later on and we will then of course get numbers for December well into the new year and at that point we’ll have a better picture of how the last quarter of the Year wrapped up Travis anise hadari in Calgary

Statistics Canada says Canada’s real gross domestic product remained unchanged in October, marking the third month in a row that Canada’s economy remained stagnant.

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