Consumption in Canada

Canada Consumption | Economic News & Forecasts

Canada - Consumption

Economic activity contracts in November

Matching analysts’ expectations, the economy shrank 0.1% month-on-month in November, following a 0.3% month-on-month expansion in October. According to Statistics Canada, 13 out of the 20 industrial sectors posted gains over the previous month, but this was more than offset by decreases in the wholesale trade, finance and insurance, manufacturing and construction sectors.

On an annual basis, growth ticked down to 1.7% from 2.2% in October, while annual average growth inched down to 2.4% from 2.5% a month earlier.

Dissecting November’s print, Benoit P. Durocher, senior economist at Desjardins, noted that:

“Some one-time factors contributed to a decline in output for November. Production in oil refineries was down

due to maintenance work. An unusual retooling and production schedule hampered the automobile industry. The rotating strike

at Canada Post disrupted the transportation sector. A violent storm on the east coast impacted oil and gas extraction activities.

That said, all of these sectors could bounce back in December.”

The Bank of Canada expects economic momentum to ease slightly this year, forecasting growth of 1.7% in 2019 and 2.1% in 2020. Met the why particular Consensus Forecast panelists see growth of 1.9% in 2019, which is down 0.1 percentage points from the previous forecast, and 1.8% in 2020.

Canada - Consumption Data

2013  2014  2015  2016  2017  
Consumption (annual variation in %)2.6  2.7  2.1  2.4  3.5  

Sample Report

5 years of economic forecasts for more than 30 economic indicators.

Download

Canada Facts

ValueChangeDate
Bond Yield1.931.00 %Feb 13
Exchange Rate1.330.15 %Feb 14
Stock Market15,6960.23 %Feb 14

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.

Download

Start Your Free Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Economic News

Search form