RBC Previews This Week's GDP Data in Canada

09:00 AM EDT, 10/27/2026 (MT Newswires) -- Canada's gross domestic product is estimated to have grown 0.1% on the month in August, slightly below Statistics Canada's preliminary 0.2% estimate but up from no growth in July, according to RBC Economics in a note. This would keep third-quarter GDP annual growth broadly in line with RBC's 1.8% forecast, following the strong 3.3% expansion recorded in the second quarter, wrote the bank in a Thursday note. Early data points to a decline in oil extraction in August, a 1.4% monthly drop in wholesale trade volumes and little change in manufacturing output, added RBC. Consumer activity was more resilient, with retail sales estimated to have increased and construction spending continuing to grow. StatsCan is slated to release August and preliminary September GDP on Friday, at 8:30 a.m. ET.