Canada’s real GDP grew 0.8% in October from September, analysts estimate, while November ‘s GDP was likely to rise 0.3%, according to the country’s Statistics Office. Reuters agency. The agency also revised upwards its September GDP growth to 0.2% from 0.1%.
With the rise in November, which is a preliminary estimate, the Canadian economy is just 0.1% below pre-pandemic levels, Statscan said.
The Bank of Canada reported this month that the slump in the economy has slowed sharply, creating the conditions for it to start raising interest rates from historically low levels.
Markets expect the first increase in March 2022, although bets are rising for an earlier move to raise interest rates.
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Source From: Capital
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