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Real GDP up 0.5 per cent in January after December decline: StatsCan

OTTAWA - Statistics Canada says the economy grew by 0.5 per cent in January, which was more than expected.

Economists had estimated the Canadian economy grew by 0.3 per cent in January, following a 0.5 per cent decline in December.

The output of goods-producing industries grew 1.0 per cent in January, led by an increase in manufacturing and, to a lesser extent, in mining and oil and gas extraction and in construction.

The agriculture and forestry sector and utilities declined.

The output of service industries increased 0.3 per cent in January, with notable gains in retail and wholesale trade.

The Canadian Press


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