• The third-quarter reading came in below the 0.2% gross domestic product (GDP) increase forecast by analysts in a Reuters poll, and below the Bank of Canada’s (BoC) 0.8% projected gain.
  • The economy avoided slipping into a technical recession – defined as two consecutive quarter-on-quarter contractions – because second-quarter GDP data was revised up to a 1.4% gain from an initial report of a 0.2% decline, Statistics Canada said.