Statistics Canada announced on Friday that the country’s gross domestic product (GDP) increased a seasonally adjusted 0.3 percent m-o-m in January 2019, following a 0.1 m-o-m drop in December 2018.
That was above economists’ forecast for a flat reading.
In y-o-y terms, the Canadian GDP rose 1.6 percent in January.
According to the report, the output of goods-producing industries increased 0.6 percent m-o-m, led by growth in manufacturing (+1.5 percent m-o-m) and construction (+1.9 percent m-o-m). Meanwhile, services-producing industries rose 0.2 percent m-o-m as all but one sector (accommodation and food services, -0.5 percent m-o-m) increased.
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