Statistics Canada says the economy remained flat in October for the third straight month as services-producing industries edged 0.1 per cent higher, while goods-producing industries were unchanged.
It also forecasts that real gross domestic product for November increased 0.1 per cent, with estimated gains in manufacturing, transportation and warehousing, and agriculture, forestry, fishing and hunting partially offset by decreases in retail trade.
StatCan says that for October, the manufacturing sector declined 0.6 per cent and wholesale trade contracted 0.7 per cent, while retail trade grew 1.2 per cent and mining, quarrying and oil and gas extraction saw a one per cent gain.
It says the transportation and warehousing sector declined 0.2 per cent in October as the St. Lawrence Seaway strike decreased activity in some transportation subsectors.
That included a 3.7 per cent contraction in water transportation, which was down for the first time since the B.C. port strike in July, while trucking transportation was down 0.9 per cent as many trucks poised to carry grain were sidelined during the work stoppage.
Real estate agent and broker activities were down 6.8 per cent in October, the largest monthly decrease since April 2022, as StatCan says a majority of Canada's largest housing markets continued to cool off.
This report by The Canadian Press was first published Dec. 22, 2023.
The Canadian Press
