# Factories Lead Canada’s Fastest Economic Growth in Five Months - TT

> Statistics Canada reported GDP grew 0.3 percent in October, faster than forecast, led by manufacturing. Oil and gas extraction rose 3.6 percent, while Alberta ordered production cuts in January that could slow growth.

- Date: 2018-12-21 · published 2018-12-21T12:00:00.000Z
- Category: report · region Canada · magnitude low
- Page: https://feedsoft.ai/events/61784-factories-lead-canada-s-fastest-economic-growth-in-five-months-tt
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Stronger Canadian growth reduces the urgency of rate cuts and supports the loonie, while Alberta's production cuts signal weaker energy demand ahead.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-10-01 | [Oil slides 2.5% as US inventories build, weak economic data weighs](https://feedsoft.ai/events/56752-oil-slides-2-5-as-us-inventories-build-weak-economic-data-weighs.md) | -2.5% | +2.9% |
| WTI | 2018-01-19 | [IEA Sees ‘Explosive’ Growth in U.S. Oil Output as Prices Rally - Bloomberg](https://feedsoft.ai/events/67147-iea-sees-explosive-growth-in-u-s-oil-output-as-prices-rally-bloomberg.md) | +2.5% | -3.9% |
| WTI | 2018-11-22 | [U.S. crude stockpiles rise more than forecast in ninth weekly build - EIA](https://feedsoft.ai/events/10265-u-s-crude-stockpiles-rise-more-than-forecast-in-ninth-weekly-build-eia.md) | -5.6% | -16.1% |
| WTI | 2020-04-13 | [COVID-19 Weakens Ethanol Demand Leading to Reduction in Corn Usage Forecast - Purdue Agricultural Economics](https://feedsoft.ai/events/53644-covid-19-weakens-ethanol-demand-leading-to-reduction-in-corn-usage-forecast.md) | -19.9% | +5.3% |
| WTI | 2024-12-11 | [OPEC makes fifth and biggest cut to 2024 oil demand growth forecast \| Reuters](https://feedsoft.ai/events/27123-opec-makes-fifth-and-biggest-cut-to-2024-oil-demand-growth-forecast-reuters.md) | +2.1% | +7.6% |

## Sources

- ttnews.com: https://www.ttnews.com/articles/factories-lead-canadas-fastest-economic-growth-five-months

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