Canada GDP Q3 annualized +2.6% vs +0.5% expected

• Prior -1.6% (revised to -1.8%)
• GDP Q3 Q/Q +0.6% vs -0.4% prior (revised to -0.5%)
• GDP for September M/M +0.2% vs +0.2% anticipated
• Prior -0.3% (-0.1%)
• GPD for October preliminary -0.3%

This can be a enormous shock for Canadian GDP. The BoC projected +0.5%, so this blows it out of the water (though it was primarily pushed by a giant fall in imports). The central financial institution can comfortably sit again and never even fascinated by reducing charges additional.

StatCan stated: “the rise within the third quarter was pushed by a strengthening commerce steadiness, as imports dropped and exports edged up. Elevated capital funding was pushed by authorities capital spending, as enterprise funding was flat. General progress was dampened by declines in family and authorities remaining consumption expenditures in addition to a slower accumulation of enterprise stock.”