Data released on Monday showed that Canada's real GDP contracted 0.1% in October. Krishna Rangasame, an analyst at the Canadian National Bank, notes that the Canadian economy suffered its first production contraction in eight months in October, as the services sector offset the softer commodity sector.

the main points:
"Canada's real GDP fell 0.1% in October, bringing the three-month change in production to 0.3% annually."

"On an annual basis, Canada's GDP increased by 1.2% in October, with gains in services (+ 2.0%) more than offset the decline in the commodity sector (-1.1%)."

"October's GDP fell by a disappointment, unanimously that no change in production was expected. However, the report is not as bad as the overall drop in production suggested. Note that the majority, i.e., 13 of the twenty industries recorded gains in production during the month. The flexibility of the services sector, with the eighth consecutive increase in production, is reassuring because it is a reliable source of support that helps the economy offset the faltering goods sector amid external shocks - the weak global economy and GM.

“We expect Canadian GDP growth in the fourth quarter to slow to around 1% annually. Even so, this will not prevent Canada from achieving an annual GDP growth rate of nearly 1.7% in 2019, which is higher than the Bank of Canada’s estimate. In the latest monetary policy report. "