It wasn’t far off from the Bank of Canada (BoC) target of 1.5%, though economists at BMO emphasize that’s post downward revisions from the BoC. The central bank had forecast 2.8% growth until October, nearly cutting their forecast in half a month after Q3 officially ended but had yet to be reported. Despite aggregate growth, Stat Can emphasized a lack of per-capita progress. They warn per-capita, real GDP fell 0.4% in Q3, marking the 6th consecutive negative quarter.
https://betterdwelling.com/canadian-gdp-rises-on-gov-spending-big-revisions-to-slow-rate-cuts-bmo/
It wasn’t far off from the Bank of Canada (BoC) target of 1.5%, though economists at BMO emphasize that’s post downward revisions from the BoC. The central bank had forecast 2.8% growth until October, nearly cutting their forecast in half a month after Q3 officially ended but had yet to be reported. Despite aggregate growth, Stat Can emphasized a lack of per-capita progress. They warn per-capita, real GDP fell 0.4% in Q3, marking the 6th consecutive negative quarter. https://betterdwelling.com/canadian-gdp-rises-on-gov-spending-big-revisions-to-slow-rate-cuts-bmo/
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Canadian GDP Rises On Gov Spending, Big Revisions To Slow Rate Cuts: BMO - Better Dwelling
Canada’s economy is still chugging along, and doing better than many experts thought. Statistics Canada (Stat Can) data shows Gross Domestic Product (GDP) advanced in Q3 2024, mainly driven by household borrowing and government spending. A continued drop in per-capita GDP was almost entirely overshadowed by big upward revisions to prior data. One of the […]
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