OTTAWA – Statistics Canada is set to release third quarter gross domestic product figures this morning.
The agency’s preliminary estimate pointed to one per cent annualized growth over the three-month period.
That would be below the Bank of Canada’s October forecast of 1.5 per cent.
Statistics Canada is set to release third quarter gross domestic product figures this morning. A sign outside a building at Statistics Canada in seen in Ottawa on Friday, March 12, 2021. THE CANADIAN PRESS/Justin Tang
RBC says although the economy likely continued to grow in the third quarter, real GDP per capita is expected to have declined.
The GDP report comes ahead of the Bank of Canada’s interest rate announcement on Dec. 11.
The central bank is expected to deliver another interest rate cut now that inflation has returned to its two per cent target, though today’s GDP figures will likely solidify the size of that cut.
This report by The Canadian Press was first published Nov. 29, 2024.
