On Thursday's data calendar, the Canadian economy unexpectedly contracted at an annualized rate of 1.1% in the third quarter, avoiding a recession but showing growth stumbling ahead of next week's Bank of Canada's interest-rate decision. "While we wouldn’t rule out a renewed contraction in the new year, for now, the economy appears to be experiencing a "bumpy landing" rather than an outright recession," Stephen Brown, deputy chief North American economist at Capital Economics, said. Across the border, data showed U.S. consumer spending rose moderately in October, while the annual increase in inflation was the smallest since early 2021.