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Canada RBC PMI Manufacturing 47.5 in Sep-23

- The RBC PMI Manufacturing index for Canada dropped to 47.5 in September 2023, indicating a contraction in manufacturing activity.
- This reading is below the 1-year average of 1.89, signaling a significant decline in the sector compared to previous periods.

Canada GDP growth 0.01% m-o-m in Jul-23

- Canada's GDP recorded a marginal growth of 0.01% in July 2023, representing a slight recovery from the previous month's decline.
- Despite this positive development, the growth rate falls below both the one-year average and the long-run average by 0.08 and 0.18 percentage points, respectively, highlighting a lackluster economic performance.

Canada retail sales 0.35% m-o-m (consensus 0.4) in Jul-23

- Canada's retail sales in July 2023 grew by 0.35% m-o-m, the highest since April 2023, indicating a positive trend in consumer spending.
- Core retail sales rebounded by 1.0% m-o-m, demonstrating resilient payback from the previous 0.7% fall.

Canada CPI inflation 4.0% y-o-y (consensus 3.8) in Aug-23

- Canada's CPI inflation surpassed expectations to reach 4.0% y-o-y in August 2023, indicating the highest growth since April 2023.
- Other measures of inflation, such as trimmed-mean and core CPI, also indicate substantial price increases in the Canadian economy, albeit at relatively lower levels.