Canada October GDP MoM 0.0% versus 0.2% expected

<ul><li>Prior month 0.1% revised to 0.0%</li><li>Canada GDP 0.0% versus 0.2% expected</li><li>Service producing industries rose 0.1%</li><li>Goods producing industries or unchanged</li><li>The advanced GDP for November is a gain of 0.1%</li></ul><p>Some details on Manufacturing Sector:</p><ul><li><p>Overall Manufacturing Sector</p><ul><li>Decreased for the fourth time in five months.</li><li>Contracted 0.6% in October.</li><li>Declines primarily in durable goods manufacturing (-1.3%).</li></ul></li><li><p>Durable Goods Manufacturing</p><ul><li>Significant decline, with machinery and transportation equipment manufacturing as key contributors.</li></ul></li><li><p>Non-Durable Goods Manufacturing</p><ul><li>Edged up 0.2% in October, marking a second consecutive increase.</li></ul></li><li><p>Machinery Manufacturing</p><ul><li>Decreased 4.0% in October after three months of increases.</li><li>Large declines in general-purpose machinery (-5.1%) and metalwork machinery manufacturing (-7.3%).</li><li>Decline associated with the completion of large projects and coincided with lower exports of industrial machinery, equipment, and parts.</li></ul></li><li><p>Transportation Equipment Manufacturing</p><ul><li>Decreased 1.9% in October.</li><li>Notable contraction in other transportation equipment manufacturing by 9.9%, linked to lower inventory formation.</li><li>Motor vehicle parts down by 1.6%, partly due to a major auto assembly plant shutdown for retooling and lower exports of motor vehicle parts to the United States.</li></ul></li></ul><p>Sluggish data. The USDCAD is ticking marginally higher but off lowest level since August 2. </p>

This article was written by Greg Michalowski at

Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *