Looney Plunges As Canadian GDP Collapses Most Since 2009

Tyler Durden's picture

Who could have seen that coming? It appears, for America's northern brethren, low oil proces are unequivocally terrible. Against expectations of a flat 0.0% unchanged September, Canadian GDP plunged 0.5% - its largest MoM drop since March 2009 and the biggest miss since Dec 2008. With Canada's housing bubble bursting, it's time for the central planners to get back to work and re-invigorate the massive mal-invesment boom (and ban pawning of luxury goods).

In the past year, we have extensively profiled the collapse of ground zero of Canada's oil industry as a result of the plunge in the price of oil, in posts such as the following:

Since then it has gotten far, far worse for Canada... GDP is down 0.5% MoM (and unchanged YoY - the worst since Nov 09)

 

The initial reaction is a tumbling looney...

 

Charts: Bloomberg