Canada Monthly GDP MoM

The Canadian GDP contracted by 0.1% from the previous month in November of 2024, the first decline in 11 months, as lower output in extractive industries, transportation and warehousing, and financial services offset growth for accommodation and food services and real estate and rental and leasing, according to a flash estimate. Regarding October, the Canadian GDP expanded by 0.3%, revised higher from the flash reading of a 0.1% rise and picking up from the upwardly revised 0.2% increase in September. Output growth in October was carried by mining, quarrying, and oil and gas extraction (2.4%) amid higher extraction activity in oil sands, and higher output for natural gas, copper, nickel, and lead. Also, manufacturing output grew 0.3% amid a 2.1% increase in the production of non-durable goods. In turn, services industries expanded by 0.1% as an expansion for wholesale trade (0.5%) and real estate leasing (0.5%) offset a decline in professional and scientific services (-0.2%),