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Canada GDP remains unchanged in October, says Statistics Canada

Canada GDP remains unchanged in October, says Statistics Canada

India Blooms News Service | @indiablooms | 23 Dec 2017, 06:03 pm

Ottawa, Dec 23 (IBNS): Canada's Gross Domestic Product (GDP), which has shown a rise by 2% in September, remained unchanged in October, according to Statistics Canada.

In October, 9 out of 20 industrial sectors expanded.

Service-producing sectors has shown a rise of 0.2%. The growth mainly occurred in wholesale trade, retail trade and real estate.

On the other hand, goods producing sectors declined by 0.4%. The decline has been registered in mining, quarrying, and oil and gas extraction sector.

The wholesale trade sector grew 9th time in last 11 months in October. It grew by 1.4% in October.

Real estate and rental and leasing rose 0.3% in October, the statement said.

Mining, quarrying, and oil and gas extraction was however down by 1.1% in October.

Finance and insurance declined for the fourth month straight away.

Bank of Montreal economist Doug Porter told CBC News: "Following yesterday's surprisingly upbeat pair of reports for retail sales and inflation, today's even more surprising stall in October GDP is a comedown."

(Reporting by Suman Das)