FX.co ★ Canada GDP Seen Shrinking in September

The Canadian economy is estimated to have contracted by 0.1% month-on-month in September 2026, as declines in manufacturing, mining, quarrying, and oil and gas extraction were partly offset by gains in utilities and wholesale trade. Based on preliminary data for September, GDP is expected to have expanded by 0.3% in the third quarter of 2026, following a 0.8% increase in the second quarter.

In August, however, economic activity was flat for a second consecutive month. Output in services-producing industries edged down 0.1%, with declines in wholesale trade and public administration partly counterbalanced by growth in retail trade. At the same time, goods-producing industries inched up 0.1%, as gains in manufacturing and construction more than offset a decrease in utilities.