BMO Says Canada's Q4 GDP Will Need "Very Strong" November, December Reading to Stay Positive

BMO reports that Canada's economy contracted by 0.3% in October, with manufacturing down 1.5% and mining, oil, and gas also declining. The Alberta teachers' strike further impacted education output. Year-over-year growth is at 0.4%, the slowest since the pandemic. BMO emphasizes that strong performance in November and December is crucial for Q4 growth to remain positive, following a modest 0.1% rebound in November.