Statistics Canada reports economy grew 0.4 per cent in October

Statistics Canada says real gross domestic product grew 0.4 per cent in October, its sixth consecutive month of growth.

The increase followed growth of 0.8 per cent in September.

Economists had expected an increase of 0.3 per cent for October, according to financial data firm Refinitiv.

Both goods-producing and service-producing sectors were up overall in October, but Statistics Canada report notes declines in manufacturing and food services.

Despite the growth, the Canadian economy remains about four per cent below where it was prior to the COVID-19 pandemic.

Statistics Canada says its preliminary estimate for November indicates growth of 0.4 per cent for the month.