Statistics Canada to release October GDP data this morning

OTTAWA –

Statistics Canada is set to release its latest economic reading this morning.

The federal agency is expected to release real gross domestic product figures for the month of October.

In a preliminary estimate released last month, Statistics Canada said real GDP was essentially unchanged for the month, with the economy neither expanding nor contracting.

The agency said advance indications were that increases in the public, transportation and warehousing, construction and wholesale trade sectors were offset by decreases in the manufacturing and mining, quarrying and oil and gas extraction sectors.

The report comes after growth of 0.1 per cent in September.

An economic slowdown is expected as the Bank of Canada has worked to cool inflation by raising interest rates seven times this year.

This report by The Canadian Press was first published Dec. 23, 2022.