GDP EXPANDS MORE THAN EXPECTED DESPITE SECOND WAVE

Canada's economy expanded more than forecast in October, easing worries of a sharp slowdown amid a second wave of coronavirus. Gross domestic product grew 0.4 per cent in October from a month earlier, Statistics Canada said Wednesday. Economists were expecting 0.3 per cent growth, according the median forecast in a Bloomberg survey. The agency also released a preliminary estimate for November, which showed a 0.4 per cent expansion. Canada's economy rebounded strongly in the third quarter, but a fresh surge of COVID-19 is hampering the near-term outlook, with new cases surpassing 6,600 a day on average — more than triple what was seen during the first wave in April and May. While it was the sixth-straight monthly increase for GDP, the October reading marked a slowdown from September.