23 December 2019

At the same time, certain sectors and industries expanded in October. For instance, oil production rose by 0.1% and real estate showed a 0.7% gain.

Though a slowdown was expected after weak monthly reports in terms of wholesale, factory and retail sales, October’s GDP will make it more difficult for the national economy to keep up with the central bank’s forecast of 1.3% growth in the fourth quarter.

Some economists are now considering the possibility of the “insurance” rate cut from the BoC in March of 2020.