# What GDP is telling the Bank of Canada: economists

> Statistics Canada reported August GDP unchanged, below analyst expectations of a 0.1% gain, and a flat preliminary September forecast. Economists estimate third-quarter GDP contracted 0.1%, which would meet the technical recession definition.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: report · region Canada · magnitude low
- Page: https://feedsoft.ai/events/33849-what-gdp-is-telling-the-bank-of-canada-economists
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A contracting Canadian economy points to slower domestic demand and an end to Bank of Canada tightening, which modestly supports a weaker loonie.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- financialpost.com: https://financialpost.com/economy/what-gdp-tells-bank-of-canada/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.