Canada August GDP 0.0% vs +0.1% expected

<ul><li>July advanced reading was 0.0%</li><li>Prior was 0.0%</li><li>September advance GDP 0.0%</li><li>Services +0.1%</li><li>Goods -0.2%</li><li>Wholesale trade +2.3%</li><li>The mining, quarrying, and oil and gas extraction sector rose 1.2%</li><li>Manufacturing -0.6%</li><li>Accommodation and food services declined 1.8%</li><li>The transportation and warehousing sector increased 0.8%</li><li>Retail trade contracted 0.7%</li></ul><p>So July, August and September GDP are all at 0.0%. That makes it really easy to calculate Q3 GDP.</p><p>As for the bigger picture, a flat reading for Q3 GDP could quickly turn into a negative one for Q4 and it won't be long before the Bank of Canada is cutting rates. I think the landing will be particularly hard if the BOC maintains a hawkish stance through April when the spring real estate season ramps up.</p>

This article was written by Adam Button at www.forexlive.com.