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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.

© 2016 The Canadian Press

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