CAD: Industry-level GDP expected to post 0.1% m/m decline in October - TDS

Research Team at TDS suggests that Canada’s October industry-level GDP provides an early read on Q4 activity and is expected to indicate a soft start.

Key Quotes

“Despite yesterday’s strong retail sales data, we expect a 0.1% m/m decline, below the consensus expectation for a flat print. The October weakness is expected to be concentrated in the goods sectors and likely driven by a leveling off of energy production.”