Canada's economy grew 0.3 per cent in October, bolstered by mining and oil and gas extraction, marking a continued recovery following previous declines.
According to Andrew DiCapua, the senior economist at the Canadian Chamber of Commerce, 'Canada's economy is picking up steam as we wrap up the year, and we're expecting growth in the fourth quarter close to two per cent.'
DiCapua acknowledged the rebound in manufacturing and the rise in oil and gas exports, but emphasized ongoing concerns stating, 'we remain pessimistic about the challenges ahead, with tariffs, reduced immigration targets and increased uncertainty clouding the outlook for businesses.'
Statistics Canada’s early estimate for November shows real GDP edged 0.1 per cent lower, indicating that the growth momentum may be slowing amidst sector-specific declines.
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