The Canadian economy grew slightly in October with the latest reading on real gross domestic product coming in higher than expected.
Air transportation rose 5.5 per cent in October to the highest level of activity since February 2020’s pre-COVID-19 pandemic level.
Activity in food services and drinking places increased by 2.1 per cent in October, offsetting a 1.6 per cent decline in accommodation services that month..The cool down in the goods-producing industries in October was led by a decrease in mining, quarrying, and oil and gas extraction and weakening in the manufacturing sector.
October’s 0.1 per cent growth followed September’s upwardly revised uptick in real GDP of 0.2 per cent.
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Statistics Canada to release October GDP data this morningStatistics Canada is set to release its latest economic reading this morning.
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