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Message: [QUOTE="MiloPlexyTrade, post: 239641, member: 122944"] [RIGHT][B]23rd December 2024 Monday[/B][/RIGHT] [JUSTIFY][B]Canada is set to release its monthly GDP data on Monday, offering insight into the nation's economic performance. The report will provide a detailed look at the economy's growth or contraction in the most recent month, helping analysts and policymakers assess the current economic conditions and trends.[/B][/JUSTIFY] [CENTER][B][U]CAD - GDP m/m[/U][/B][/CENTER] [JUSTIFY]The GDP m/m measures the change in the inflation-adjusted value of all goods and services produced within the economy. Typically, a higher-than-forecast "actual" result is positive for the currency. Traders pay close attention to this indicator as it is the broadest measure of economic activity and a key gauge of the economy's overall health. In Q3 2024, Canada's economy grew at an annualized rate of 1%, aligning with economists' expectations but below the Bank of Canada's 1.5% forecast. This growth was driven by increased household and government spending, particularly on new vehicles and financial services, while expenditures on food services and accommodation declined. Real GDP per capita decreased by 0.4%, marking the sixth consecutive quarterly decline. Business investment and exports contracted, with government spending rising for the third consecutive quarter. Housing investment saw its first increase in a year, propelled by a rebound in resale activity, despite downturns in new construction and renovations. Monthly GDP growth was modest at 0.1% in both September and October. In September, services-producing industries expanded by 0.2%, led by wholesale trade (+0.9%), retail trade (+1%), and transportation and warehousing (+0.7%), while information and cultural industries (-0.1%) and professional, scientific, and technical services (-0.2%) declined. Goods-producing industries contracted by 0.3%, with declines in mining, quarrying, and oil and gas extraction (-1.4%) and manufacturing (-0.3%), partially offset by a 0.4% increase in construction. These figures indicate a mixed economic performance, with consumer and government spending mitigating the effects of weak business investment and exports. [/JUSTIFY] [B]TL;DR[/B] [TABLE] [TR] [TH][B]Metric[/B][/TH] [TH][B]Value/Details[/B][/TH] [/TR] [/TABLE] [TABLE] [TR] [TD][B]Q3 2024 Annualized GDP Growth[/B][/TD] [TD]1% (aligned with expectations, below Bank of Canada’s forecast of 1.5%)[/TD] [/TR] [/TABLE] [TABLE] [TR] [TD][B]Main Growth Drivers[/B][/TD] [TD]Increased household & government spending, especially on vehicles & financial services[/TD] [/TR] [/TABLE] [TABLE] [TR] [TD][B]Declines in Spending[/B][/TD] [TD]Expenditures on food services & accommodation declined[/TD] [/TR] [/TABLE] [TABLE] [TR] [TD][B]Real GDP per Capita[/B][/TD] [TD]Decreased by 0.4%, marking the sixth consecutive quarterly decline[/TD] [/TR] [/TABLE] [TABLE] [TR] [TD][B]Business Investment[/B][/TD] [TD]Contracted[/TD] [/TR] [/TABLE] [TABLE] [TR] [TD][B]Exports[/B][/TD] [TD]Contracted[/TD] [/TR] [/TABLE] [TABLE] [TR] [TD][B]Government Spending[/B][/TD] [TD]Increased for the third consecutive quarter[/TD] [/TR] [/TABLE] [TABLE] [TR] [TD][B]Housing Investment[/B][/TD] [TD]Increased for the first time in a year, driven by resale activity[/TD] [/TR] [/TABLE] [TABLE] [TR] [TD][B]Monthly GDP Growth (Sept & Oct)[/B][/TD] [TD]0.1% in both September and October[/TD] [/TR] [/TABLE] [TABLE] [TR] [TD][B]September Sector Performance[/B][/TD] [TD]Services: +0.2% (wholesale trade, retail trade, transportation up) Goods: -0.3% (mining, quarrying, oil & gas down)[/TD] [/TR] [/TABLE] [TABLE] [TR] [TD][B]Key Sector Declines in Sept[/B][/TD] [TD]Mining, quarrying, oil & gas extraction (-1.4%) Manufacturing (-0.3%)[/TD] [/TR] [/TABLE] [TABLE] [TR] [TD][B]Offsetting Sector Growth[/B][/TD] [TD]Construction +0.4%[/TD] [/TR] [/TABLE] [TABLE] [TR] [TD][B]Overall Economic Performance[/B][/TD] [TD]Mixed performance; consumer and government spending offset weak business investment and exports[/TD] [/TR] [/TABLE] [B][/B] The forecast for [B]monthly GDP growth [/B]stands at [B]0.2%,[/B] compared to the previous outcome of [B]0.1%.[/B] The [B]monthly GDP [/B]report is scheduled for release on [B]Monday [/B]at [B]1:30 PM GMT. [ATTACH type="full"]30813[/ATTACH][/B] [/QUOTE]

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