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HomeNewsCanadian NewsGDP Snapshot: Statistics Canada's November Report to Shed Light on Economic Trends.

GDP Snapshot: Statistics Canada’s November Report to Shed Light on Economic Trends.

GDP Snapshot

This morning, Statistics Canada is scheduled to issue its November GDP data and a preliminary estimate of fourth-quarter economic growth.

According to RBC, the economy expanded by 0.1% in November, which would be the first increase in real GDP in six months.

It still predicts a modest contraction of the economy in the fourth quarter.

Interest rates are at their highest point in decades, which has made it difficult for the Canadian economy to expand.

Canadian businesses are witnessing a slowdown in sales growth, and consumers are cutting back on their purchases as they pay higher mortgage interest rates.

The first half of this year is expected to see continued sluggish growth, with a rebound expected in the second half of 2024, according to economists.

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