The Canadian Economic Month at a Glance: November 2017

After a string of consistently positive data releases from Statistics Canada over the past year, the data over the past month were mixed. The economy added 35,300 jobs in October as full-time employment surged. On the other hand, the economy contracted in August for the first time in nearly a year; while a slowdown was expected over the second half of 2017, recent data suggest it may be sharper than forecast. Slowing economic momentum was further evidenced in the September trade report, which showed merchandise exports declining for the fourth straight month. And recent releases of business confidence indicators showed that firms are tempering their outlooks going forward.