OTTAWA, Dec 23 (Reuters) – Canada’s economy likely expanded for the sixth consecutive month in November, after matching expectations in October on broad-based increases including a manufacturing rebound, official data showed on Thursday.
Canada’s real gross domestic product rose 0.8% in October from September, in line with analyst estimates, while November GDP was most likely up 0.3%, Statistics Canada said. It also revised up September’s GDP gain to 0.2% from 0.1%.
With November’s rise, which is a preliminary estimate, Canada’s economy is just 0.1% below pre-pandemic levels, Statscan said.
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The Bank of Canada this month said slack in the economy had substantially diminished, setting the stage for it to begin hiking interest rates from historic lows. read more
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The Canadian…
