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Weekly Commentary

Provincial GDP Numbers Show Rate Hikes’ Early Impacts, Highlight New Weak Points

November 10, 2023
Marc Desormeaux
Principal Economist

  • Canadian housing starts likely dropped to 250k units.
  • Canada: We expect that existing home sales fell by 2% in October.
  • Following two consecutive months of growth, manufacturing sales probably declined slightly in Canada.
  • US inflation likely slowed thanks to a sharp drop in gasoline prices.
  • United States: Excluding motor vehicles and gasoline, retail sales probably rose again in October.