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Canadian economy shows easing for the first time in 8 months

Tue Dec 24, 2019
watermark Economic news

Canada's economic indicators unexpectedly fell in October amid a sharp decline in manufacturing and retail sales.


According to Statistics Canada data, GDP in October fell by 0.1% compared with the previous month – to 1.975 trillion Canadian dollars ($ 1.5 trillion). This decline became the first in eight months. Analysts had forecast growth of 0.1% after rising 0.1% in September. In annual terms, the Canadian economy grew by 1.2%.


The most negative impact on the country's economy had a decline in manufacturing (by 1.4%) and in retail trade (by 1.1%).


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