Canadian GDP up 0.4% in November, Statistics Canada says

By zaymalz malz

According to the latest monthly data from Statistics Canada, the Canadian economy grew 0.4% during the month of November 2017, largely driven by widespread growth across the vast majority of Canada’s industrial sectors.

17 of 20 industrial sectors reported growth, with goods producing industries rising 0.8% following a 0.5% decline the month previous. Further, the manufacturing sector saw a significant rise, up 1.8% - the largest monthly increase in over two and a half years.

See also:

The Canadian auto manufacturing industry saw the biggest gains, up 14.3%, following four straight monthly declines between July and October that resulted in a total 21.5% drop in the industry.

The mining, quarrying and oil & gas sectors also contributed significantly to the overall growth in GDP, with a 0.5% increase, despite a 1.1% decline through October.

The 0.4% growth of the economy marks a further increase in GDP, up from the 0.2% growth recorded in October, making it the strongest month for growth since May 2017.

Share

Featured Articles

JPMorgan Chase: Committed to supporting the next generation

JPMorgan has unveiled a host of new and expanded philanthropic activities totalling US$3.5 million to support the development of apprenticeship programmes

How efficient digital ecosystems became business critical

During this unprecedented era of rapid digital transformation, establishing a well-functioning ecosystem stands to benefit both employees and customers

Mastercard: Supporting clients at a time of rapid evolution

Mastercard has announced a significant expansion of its consulting business with the launch of new practices dedicated to both AI and economics

Why Ceridian has boldly rebranded to Dayforce

Human Capital

McKinsey’s eight lessons in leadership for aspiring CEOs

Leadership & Strategy

KPMG: The biggest challenges facing global CEOs in 2023

Leadership & Strategy