Even StatsCan Can Be Wrong - Q3 GDP Outperforms!

Statistics Canada released Q3 GDP figures on November 30, reporting 1.3% quarter-over-quarter growth; annualized, that's 5.3%. This result exceeds the 2.0% annualized growth they predicted in October. The economy was driven by consumer spending on services (up by 6.3% over Q2) and semi-durable goods (up by 14.0% quarter-over-quarter). At the same time, they released September GDP figures, showing a 0.1% growth over August. Finally, they also provided a flash estimate for October, calling for a healthy 0.8% boost. Read the Q3 article here and the September report here.