Statistics Canada says real gross domestic product decreased 0.2 percent in November, the largest monthly contraction since December 2023.
However, the agency said Friday its preliminary estimate for December pointed to an increase of 0.2 percent for the final month of the year.
The advance estimate suggests an annualized growth rate of 1.8 percent in the fourth quarter of 2024.
The economic report came as the U.S. threatens to impose tariffs on goods coming from Canada as soon as Saturday.
For November, Statistics Canada said goods-producing industries contracted 0.6 percent, as mining, quarrying and oil and gas extraction fell 1.6 percent in November.
The utilities sector dropped 3.6 percent in November, as electric power generation, transmission, and distribution fell 4.4 percent….