January 25, 2021

Canada’s economy grew 0.4 percent in October

Canada’s economy grows 0.4 percent in October – News 1130



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Last updated on December 23, 2020 at 6:57 AM B.S.T.

Summary

Statistics Canada says GDP grew 0.4 percent in October

The October increase in GDP followed the 0.8 per cent growth in September

OTTAWA – Statistics Canada’s GDP grew 0.4 percent in October, the sixth consecutive month of growth.

The increase was followed by 0.8 percent growth in September.

Economists expect a 0.3 percent increase in October, according to financial data firm Refinitive.

Both the manufacturing and service manufacturing sectors were overall in October, but the decline in manufacturing and food services figures Canada reports.

Despite growth, the Canadian economy is four percent lower than it was before the COVID-19 epidemic.

Statistics show that Canada’s preliminary estimate for November represents 0.4 percent growth for this month.

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* Consolidated Accounts *