October 31st by Gelonhui | Analyst Robb Stewart said, without a doubt, Canada's economy is declining. The industrial GDP was revised downwards to just 0.1% month-on-month growth in July and remained flat in August. Statistics Canada estimates a growth rate of 0.3% in September, seeming to show a rebound. This means that the industrial GDP for the third quarter grew at an annual rate of 1%, significantly lower than the 2.2% in the first quarter and 2.1% in the second quarter. This also implies that the GDP economic growth rate expectation of 1.5% for the third quarter recently lowered by the Bank of Canada may still be too optimistic.