- July advanced reading was 0.0%
- Prior was 0.0%
- September advance GDP 0.0%
- Services +0.1%
- Goods -0.2%
- Wholesale trade +2.3%
- The mining, quarrying, and oil and gas extraction sector rose 1.2%
- Manufacturing -0.6%
- Accommodation and food services declined 1.8%
- The transportation and warehousing sector increased 0.8%
- Retail trade contracted 0.7%
So July, August and September GDP are all at 0.0%. That makes it really easy to calculate Q3 GDP.
As for the bigger picture, a flat reading for Q3 GDP could quickly turn into a negative one for Q4 and it won't be long before the Bank of Canada is cutting rates. I think the landing will be particularly hard if the BOC maintains a hawkish stance through April when the spring real estate season ramps up.
