OTTAWA—Statistics Canada says real gross domestic product increased by 0.8 percent in October. The showing matched the agency’s preliminary estimate released last month, and analysts expectations. Gains for the month were seen across most sectors, including manufacturing whose rebound of 1.8 percent in October more than offset a September contraction. Driving that sector was output related to auto manufacturing, despite what the statistics office notes is an ongoing shortage of semiconductor chips among other supply-chain issues hampering consistent production. Also helping in October were gains in retail trade, construction and home resale activity. The arts and entertainment sector was also up in October, helped by larger capacity limits for audiences. Statistics Canada says total economic activity in October was 0.4 percent below pre-pandemic levels recorded in February 2020. The economy appears to have inched closer to closing that gap as Statistics Canada says preliminary data for November suggests a rise …
Statistics Canada Says Economy Grew 0.8% in October, Sees Gain in November
December 23, 2021
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