- Prior month 0.1% revised to 0.0%
- Canada GDP 0.0% versus 0.2% expected
- Service producing industries rose 0.1%
- Goods producing industries or unchanged
- The advanced GDP for November is a gain of 0.1%
Some details on Manufacturing Sector:
-
Overall Manufacturing Sector
- Decreased for the fourth time in five months.
- Contracted 0.6% in October.
- Declines primarily in durable goods manufacturing (-1.3%).
-
Durable Goods Manufacturing
- Significant decline, with machinery and transportation equipment manufacturing as key contributors.
-
Non-Durable Goods Manufacturing
- Edged up 0.2% in October, marking a second consecutive increase.
-
Machinery Manufacturing
- Decreased 4.0% in October after three months of increases.
- Large declines in general-purpose machinery (-5.1%) and metalwork machinery manufacturing (-7.3%).
- Decline associated with the completion of large projects and coincided with lower exports of industrial machinery, equipment, and parts.
-
Transportation Equipment Manufacturing
- Decreased 1.9% in October.
- Notable contraction in other transportation equipment manufacturing by 9.9%, linked to lower inventory formation.
- Motor vehicle parts down by 1.6%, partly due to a major auto assembly plant shutdown for retooling and lower exports of motor vehicle parts to the United States.
Sluggish data. The USDCAD is ticking marginally higher but off lowest level since August 2.
This article was written by Greg Michalowski at www.forexlive.com.