The Canadian economy shrank 0.1 percent month-over-month in November 2018, following a 0.3 percent growth in the previous month and in line with market expectations. Decreases were recorded in wholesale trade (-1.1 percent); finance and insurance (-0.7 percent); manufacturing (-0.5 percent); construction (-0.3 percent); transportation and warehousing (-0.5 percent); retail trade (-0.3 percent); and mining, quarrying and oil and gas extraction (-0.1 percent). On the other hand, 13 of 20 industrial sectors posted gains, namely accommodation and food services (0.6 percent); professional services (0.2 percent); utilities (0.4 percent) and public sector (0.2 percent). Year-on-year, the economy grew 1.7 percent, slowing from a 2.2 percent expansion in October. Leading Economic Index in Canada averaged 0.21 percent from 1997 until 2018, reaching an all time high of 1.20 percent in September of 2003 and a record low of -1.40 percent in December of 2008.
Leading Economic Index in Canada is expected to be 0.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Leading Economic Index in Canada to stand at 0.10 in 12 months time. In the long-term, the Canada GDP MoM is projected to trend around 0.20 percent in 2020, according to our econometric models.