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Economic

Statistics Canada says economy grew 0.8% in October, sees gain in November

The Canadian Press
Statistics Canada says economy grew 0.8% in October, sees gain in November

OTTAWA — Statistics Canada says real gross domestic product increased by 0.8 per cent in October.

Gains for the month were seen across most sectors, including manufacturing whose rebound of 1.8 per cent in October more than offset a September contraction.

Statistics Canada says total economic activity in October was 0.4 per cent below pre-pandemic levels recorded in February 2020.

The economy appears to have inched closer to closing that gap as Statistics Canada says preliminary data for November suggests a rise in GDP of 0.3 per cent for the month.

Another gain in November would mark six straight months of economic expansion.

Statistics Canada will finalize November’s figures in early February.

 

© 2021 The Canadian Press

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