Economy up 0.6% in January, beats economists’ expectations
GDP boosted by manufacturing, retail trade and the oil and gas sector.
OTTAWA — The Canadian economy grew more than expected in January as it posted its fourth consecutive monthly increase.
Statistics Canada says real gross domestic product rose 0.6% in the first month of the year, boosted by manufacturing, retail trade and the oil and gas sector.
Economists had expected growth of 0.3%, according to Thomson Reuters.
Statistics Canada says the output of goods-producing industries increased 1.2% in January.
Service-producing industries rose 0.4%.
The manufacturing sector grew by 1.9% in January while the mining, quarrying, and oil and gas extraction rose 0.9% in January.
Retail trade increased 1.5% in January.
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