Canada’s economy expanded by 0.2% in November 2023 after remaining steady for three months

Goods-producing industries expand by 0.6%, the greatest rate since January 2023.

The Canadian economy expanded 0.2% in November 2023 after standing steady for three months in a row, the country’s statistical authority reported Wednesday.

The market expected real GDP to rise by 0.1% each month.

According to Statistics Canada, the goods-producing industries accounted for the majority of the growth in November, with a 0.6% increase, the highest pace since January 2023.

“Services-producing industries edged up 0.1% in November 2023 despite the impact of the strikes in the Quebec public sector that began in the month,” the company said in a press release. “Overall, 13 of 20 industrial sectors increased in November.”

According to the agency, the manufacturing sector rose 0.9% in November, while durable goods manufacturing increased 0.6%, largely offsetting the October decrease, with seven of the ten subsectors contributing to the expansion.

Wholesale commerce rose 0.7% in November, with six of nine subsectors expanding. Transportation and warehousing also rebounded, rising 0.8% after falling the previous month.

The educational services sector, on the other hand, contracted by 0.3%, the first decrease since June 2023, “as strikes by Quebec workers in the sector began in November,” according to the statement.