Canada's GDP beats expectations, grows 0.6% in January, best month since 2013
Canada's economy expanded for the fourth consecutive month in January, with gross domestic product growing by a more-than-expected 0.6 per cent from the month before.
The figure was twice as much as what economists polled by Bloomberg were expecting and represents the strongest monthly GDP growth since July of 2013.
Goods-producing industries expanded by 1.2 per cent, Statistics Canada reported, far better than the 0.4 per cent growth seen in the service sector.
"Today's monthly GDP report is perhaps the most encouraging in recent memory," TD economist Brian DePratto said. "Strength was broad-based, with nearly all major industries growing in January."
"Evidence continues to mount that the rotation towards manufacturing/export led growth is now beginning to take place."
Canada's GDP beats expectations, grows 0.6% in January, best month since 2013 - Business - CBC News
Canada's economy expanded for the fourth consecutive month in January, with gross domestic product growing by a more-than-expected 0.6 per cent from the month before.
The figure was twice as much as what economists polled by Bloomberg were expecting and represents the strongest monthly GDP growth since July of 2013.
Goods-producing industries expanded by 1.2 per cent, Statistics Canada reported, far better than the 0.4 per cent growth seen in the service sector.
"Today's monthly GDP report is perhaps the most encouraging in recent memory," TD economist Brian DePratto said. "Strength was broad-based, with nearly all major industries growing in January."
"Evidence continues to mount that the rotation towards manufacturing/export led growth is now beginning to take place."
Canada's GDP beats expectations, grows 0.6% in January, best month since 2013 - Business - CBC News