Canadian GDP Rises 0.4% in November

The output of Canada’s economy expanded by 0.4 per cent in November, led by mining, oil and gas, manufacturing and construction.

Statistics Canada reported Tuesday that the monthly expansion was a reversal of October’s data, when the economy contracted by about 0.3 per cent.

Industries that produce goods led the way with a 0.9 per cent expansion. The service sector was a relative laggard, however, expanding by just 0.2 per cent.

The numbers are “consistent with an economy that is churning out modest underlying growth,” BMO economist Robert Kavcic said, “but that’s still a meaningful improvement from conditions that we saw going into 2016.”

via CBC

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