Growth beats economists' expectations
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 per cent 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 per cent, according to Thomson Reuters.
Statistics Canada says the output of goods-producing industries increased 1.2 per cent in January.
Service-producing industries rose 0.4 per cent.
The manufacturing sector grew by 1.9 per cent in January while the mining, quarrying, and oil and gas extraction rose 0.9 per cent in January.
Retail trade increased 1.5 per cent in January.