Shipping containers are seen at the Fairview Cove Container Terminal in Halifax on Friday, Aug. 25, 2017. THE CANADIAN PRESS/Andrew Vaughan

Shipping containers are seen at the Fairview Cove Container Terminal in Halifax on Friday, Aug. 25, 2017. THE CANADIAN PRESS/Andrew Vaughan

Statistics Canada reports economy grew 0.4 per cent in October

The increase followed growth of 0.8 per cent in September

Statistics Canada says real gross domestic product grew 0.4 per cent in October, its sixth consecutive month of growth.

The increase followed growth of 0.8 per cent in September.

Economists had expected an increase of 0.3 per cent for October, according to financial data firm Refinitiv.

Both goods-producing and service-producing sectors were up overall in October, but the Statistics Canada report notes declines in manufacturing and food services.

The 0.8 per cent decline in manufacturing followed five months of growth and was largely a result of lower inventory, Statistics Canada says.

The 3.9 per cent drop in accommodation and food services, marked the second straight month of declines in the sector as the change in weather effectively ended the outdoor dining season.

Activity in the offices of real estate agents and brokers decreased 1.9 per cent in October, the agency says, following five months of sharp increases.

Statistics Canada says the areas in and around Toronto and Vancouver contributed the most to the decline in housing resale activity.

Despite the growth, the Canadian economy remains about four per cent below where it was prior to the COVID-19 pandemic.

Statistics Canada says its preliminary estimate for November indicates growth of 0.4 per cent for the month.

The Canadian Press

economy

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

The intersection of Despard Avenue and Moilliet Street, where a child was struck and injured in November 2020. (Mandy Moraes photo)
High-traffic Parksville intersection to get temporary 4-way stop

City staff to monitor effectiveness of traffic-calming measure at Despard and Moilliet

A Parksville Fire Department’s firefighter hoses down the facade of a Parksville Heritage Centre building after it caught fire on Friday afternoon (April 16). (Michael Briones photo)
Fire crews, roofers work to douse building fire in Parksville

Damage was minimal and workers escaped injury

Cast and crew of the Hallmark Channel series ‘Chesapeake Shores’ as they film at Parksville beach on April 15, 2021. (Mandy Moraes photo)
Fifth season of ‘Chesapeake Shores’ looks to showcase Parksville Qualicum Beach region

Executive producer: ‘We’re really excited for the fans to experience the fifth season’

Vancouver resident Beryl Pye was witness to a “concerning,” spontaneous dance party that spread throughout social groups at Kitsilano Beach on April 16. (Screen grab/Beryl Pye)
VIDEO: Dance party erupts at Vancouver’s Kitsilano Beach to the dismay of onlookers

‘It was a complete disregard for current COVID-19 public health orders,’ says Vancouver resident Beryl Pye

Lord Tweedsmuir’s Tremmel States-Jones jumps a player and the goal line to score a touchdown against the Kelowna Owls in 2019. The face of high school football, along with a majority of other high school sports, could significantly change if a new governance proposal is passed at the B.C. School Sports AGM May 1. (Malin Jordan)
Power struggle: New governance model proposed for B.C. high school sports

Most commissions are against the new model, but B.C. School Sports (BCSS) and its board is in favour

The B.C. Centre for Disease Control has listed Harbour Air and Air Canada flights to and from Nanaimo, from April 3, 4 and 12, on its list of flights with COVID-19. (News Bulletin file)
COVID-19 cases reported for Nanaimo flights, says disease control centre

Nanaimo flights for April 3, 4 and 12 listed on BCCDC’s list of flights with COVID-19

Russ Ball (left) and some of the team show off the specimen after they were able to remove it Friday. Photo supplied
Courtenay fossil hunter finds ancient turtle on local river

The specimen will now make its home at the Royal BC Museum

Pall Bearers carrying the coffin of the Duke of Edinburgh, followed by the Prince of Wales, left and Princess Anne, right, into St George’s Chapel for his funeral, at Windsor Castle, in Windsor, England, Saturday April 17, 2021. (Danny Lawson/Pool via AP)
Trudeau announces $200K donation to Duke of Edinburgh award as Prince Philip laid to rest

A tribute to the late prince’s ‘remarkable life and his selfless service,’ the Prime Minister said Saturday

B.C. homeowners are being urged to take steps to prepare for the possibility of a flood by moving equipment and other assets to higher ground. (J.R. Rardon)
‘Entire province faces risk’: B.C. citizens urged to prepare for above-average spring flooding

Larger-than-normal melting snowpack poses a threat to the province as warmer weather touches down

Vancouver-based Doubleview Gold Corp. is developing claims in an area north of Telegraph Creek that occupies an important place in Tahltan oral histories, said Chad Norman Day, president of the Tahltan Central Government. (THE CANADIAN PRESS/HO)
B.C. Indigenous nation opposes mineral exploration in culturally sensitive area

There’s “no way” the Tahltan would ever support a mine there, says Chad Norman Day, president of its central government

Stz’uminus Elder George Harris, Ladysmith Mayor Aaron Stone, and Stz’uminus Chief Roxanne Harris opened the ceremony. (Cole Schisler photo)
Symbolic red dresses rehung along B.C. highway after vandals tore them down

Leaders from Stz’uminus First Nation and the Town of Ladysmith hung new dresses on Sat. April 17

A Western toadlet crosses the centre line of Elk View Road in Chilliwack on Aug. 26, 2010. A tunnel underneath the road has since been installed to help them migrate cross the road. Saturday, April 24 is Save the Frogs Day. (Jenna Hauck/ Progress File)
Unofficial holidays: Here’s what people are celebrating for the week of April 18 to 24

Save the Frogs Day, Love Your Thighs Day and Scream Day are all coming up this week

Most Read