Canada: Economy continued to grow at the start of Q4 – CIBC

est growth in October/November leaves Q4 GDP tracking between 1% and 1.5%, which is above the Bank of Canada’s October Monetary Policy Report forecast of 0.5%. “Statistics Canada provided a small dose of Christmas cheer, with news that the Canadian economy continued to grow at the start of the fourth quarter. Combined with a slight upward revision to September, today's data leave Q4 as a whole tracking around 1.3%.

“The industry data can sometimes diverge from the final expenditure figures, and we suspect that the employment data for December and the BoC's own business and consumer surveys will be more important in determining if policymakers raise interest rates any further. We maintain our view for a hold at the January meeting, and feel that the Bank has already done enough to slow the economy and inflation notably in 2023.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China's economy looks different than it was going into the pandemicThe Chinese economy of 2023 almost definitely won't look like the Chinese economy of 2019. Covided
Source: CNBC - 🏆 12. / 72 Read more »

Wall Street slides as economic data fans rate hike worriesWall Street's main indexes dropped on Thursday after fresh data underscored strength in the U.S. economy.
Source: Reuters - 🏆 2. / 97 Read more »

DnD Giving Up on the Creator Economy; a Sign of Things to Come for Web3 | HackerNoonHere’s a company that seems to be abandoning the creator economy it set up years ago and is going back to chasing the money instead. - web3 dungeonsanddragons
Source: hackernoon - 🏆 532. / 51 Read more »

Column: Key coal import hubs in China perk up as economy reboots: MaguireChina has played a diminished role in global coal markets in 2022 as the country's repeated lockdowns to stem the spread of COVID-19 curtailed industry and other coal-burning activities.
Source: Reuters - 🏆 2. / 97 Read more »