The rebound in Canada's GDP in October seems to be short-lived, with Statistics Canada estimating a month-on-month decline of 0.1% in November, after a stronger-than-expected increase of 0.3% in the previous month. Michael Davenport from Oxford Economics stated that Canada's economic growth may remain stable, but due to a large amount of idle capacity in the economy, the Bank of Canada may continue to cut interest rates four more times. He expects that the temporary fiscal stimulus from the federal government's tax holiday will sustain consumer spending until early 2025, while looser mortgage guidelines and improvements in household finances will help GDP gradually improve next year.