Economics
Canada’s Economy Expands More Than Expected Amid Second Wave
- GDP climbs 0.4% in October with gains in 16 of 20 sectors
- Preliminary estimate shows November also saw 0.4% growth
Empty chairs sit inside a Toronto restaurant on Nov. 23, 2020, the first day of a new lockdown.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Canada’s economy expanded more than forecast in October, easing worries of a sharp slowdown amid a second wave of coronavirus.
Gross domestic product grew 0.4% in October from a month earlier, Statistics Canada said Wednesday in Ottawa. Economists were expecting 0.3% growth, according the the median forecast in a Bloomberg survey. The agency also released a preliminary estimate for November, which showed a 0.4% expansion.