Canada's GDP Flat in November 2025, Q4 Contraction Seen

OTTAWA, Jan. 30, 2026 – Canada's economy showed no growth in November 2025, according to Statistics Canada, with preliminary data pointing to an overall contraction in the fourth quarter of the year.

The federal statistics agency reported that real gross domestic product remained flat for November, marking a partial recovery from a 0.3 percent decline the previous month. Declines in goods-producing sectors were balanced by gains in services, preventing a deeper downturn. Manufacturing output fell 1.3 percent during the month, driven primarily by disruptions in the production of motor vehicles and parts. A global shortage of semiconductors limited operations at a major auto plant, pushing durable goods manufacturing to its lowest level since 2011, excluding the COVID-19 pandemic period.

The ripple effects extended to related areas. Wholesale trade decreased by 2.1 percent, largely due to the reduced automotive output. Contractions also occurred in agriculture, forestry, fishing and hunting. On the positive side, retail trade rose 1.3 percent, reversing losses from the prior two months. Several sectors experienced rebounds as labor disputes resolved, including strikes at Canada...