Canada GDP for October MoM zero.three% vs zero.1% estimate.

• Prior month zero.1%
• Canada GDP for October zero.three% vs zero.1% estimate
• November est is zero.1% Decreases in mining, quarrying, and oil and gasoline extraction, transportation and warehousing, and finance and insurance coverage have been partially offset by will increase in lodging and meals companies and actual property and rental and leasing.

Particulars:

• Items-producing industries: Up zero.9%, led by mining, quarrying, and oil and gasoline extraction.
• Providers-producing industries: Up zero.1%, pushed by actual property and rental and leasing exercise (fifth consecutive month of development).
• Sector efficiency: 12 of 20 sectors expanded in October.

The Mining sector led the expansion for the month.

• Mining, quarrying, and oil and gasoline extraction expanded 2.four% in October after three months of contraction.
• Oil and gasoline extraction:
  • Grew three.1%, pushed by oil sands extraction (+5.2%), the biggest enhance since December 2020.
  • Oil sands exercise resumed after upkeep, with some services reaching file manufacturing.
  • Pure gasoline extraction elevated, offsetting a decline in crude petroleum.

Manufacturing up helped by non-durable items manufacturing:

• Manufacturing rose zero.three% in October pushed by a rise in non-durable items manufacturing (+1.2%) following 4 consecutive month-to-month declines. Sturdy items manufacturing tempered the rise within the general sector, contracting zero.four% in October.

• Mining and quarrying (besides oil and gasoline):
  • Grew zero.eight%, led by steel ore mining (+1.four%).
  • Copper, nickel, lead, and zinc ore mining rose 2.three%.
  • Iron ore mining elevated 1.three%, recovering from tools failures in September.
  • Coal mining surged four.1%, pushed by thermal coal manufacturing in Alberta.
• Help actions for mining and oil and gasoline extraction:
  • Rebounded 1.three%, boosted by increased drilling and rigging exercise

In different sectors:

• Actual property and rental and leasing up for the sixth consecutive month by zero.5%
• Constuction up for the third month by zero.four%
• Wholesale commerce up zero.5% for the 2nd enhance in a row.
• Transportation and warehousing up by zero.2% for the third enhance in a row regardless of strike exercise

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This text was written by Emma Wang at www.ubaidahsan.com.



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