31 January 2018

It was also partly caused by a rebound of production capacity,” – the report says.

In November, the manufacturing sector showed a 1.8% hike, which is the largest monthly number since February 2014.

In the same time, services-producing industries were up by 0.3% with the real estate, rental, wholesale, and retail trade sectors leading.

In Exarhos’ opinion, the sharp increase seen in November only puts the economy close to 2% in Q4. It’s slightly lower than 2.5% expected by the central bank.

TD senior economist Brian DePratto believes the Bank of Canada will be definitely satisfied with such results, especially as they confirm their recent economic growth tracking.

“However, this confirmation doesn’t change the balance of economic fundamentals and risks, pointing to July as the most likely timing for the next rate hike,” – he added.