Canada's GDP was marginally lower on-month in November, with downside limited by gains in construction output, Kallanish learns from data gathered by Statistics Canada.

According to the organisation's latest report, construction output increased 0.7% month-on-month in November, up for the fourth straight month and the highest level since April 2023. Supporting the expansion was a 1.8% m-o-m gain in residential building and an increase in non-residential building construction of 1.3% m-o-m. This comes from strength in industrial and public building construction.

Mining and quarrying sector activity decreased by 1.6% on-month following a strong showing in October. Weakness in the sector came from a 5.3% decline in coal mining and quarrying output and a 3.4% m-o-m drop in oil sands extraction.