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Update: StatsCan on Canada Real GDP For October and Flash Estimate For November; Also Provides Early Indicator On Wholesale Trade

BY MT Newswires | ECONOMIC | 12/23/25 08:45 AM EST

08:45 AM EST, 12/23/2025 (MT Newswires) -- Canada's real gross domestic product (GDP) decreased 0.3% in October, offsetting a 0.2% increase in September, driven by contractions in goods-producing and services-producing industries, Statistics Canada said Tuesday.

This was in line with the StatsCan Flash Estimate for 0.3%, while Bank of Montreal had forecast a drop of 0.2%. The 0.3% represents the steepest monthly drop since December 2022.

Overall, 11 of 20 industrial sectors contracted in October, StatsCan said.

Goods-producing industries were down 0.7% in October, as most sectors comprising the grouping contracted, led by the manufacturing sector. Services-producing industries declined 0.2% in the month, impacted by a few labour stoppages that dampened the overall activity, it added.

StatsCan also said advance information indicates that real GDP by industry increased 0.1% in November.

Separately, StatsCan is providing an advance estimate of sales in the wholesale trade sector for November. The advance results for November indicate that wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) rose 0.1%. It said the increase reflects higher sales in the machinery, equipment and supplies subsector.

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