The Canadian economy expanded by 0.1% in November, according to data released on Tuesday. Q4 GDP growth is projected to have climbed at a 1.6% annualized rate. The Canadian economy dropped during the last quarter of last year, but it wasn’t as low as predictions, according to CIBC analysts.
A 0.1% gain in GDP in November, along with a little higher adjustment to the preceding month and an expected reading of flat growth for December, resulted in a 1.6% annualized growth rate for the quarter as a whole. Even while there has been a noticeable slowdown in growth compared to earlier in the year, the situation is still better than most pundits had predicted before the quarter started.
