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- Canada's GDP grew 0.6% in January on the strength of widespread growth across both goods and service producing industries
Canada's GDP grew 0.6% in January on the strength of widespread growth across both goods and service producing industries
Gross domestic product grew 0.6% in January on the strength of widespread growth across both goods- and service-producing industries. With the exception of October, gross domestic product has risen every month since June 2016.
Goods-producing industries grew for the seventh time in eight months, increasing by 1.1% in January. Service-producing industries rose 0.4%, their highest monthly growth rate since June 2015.
The manufacturing sector was the largest contributor to the increase in gross domestic product, expanding 1.9% in January. With the exception of October, the manufacturing sector has grown every month since June 2016.
Durable manufacturing rose 2.0% in January, led by growth in fabricated metal, non-metallic mineral and wood product manufacturing. With the exception of miscellaneous manufacturing, all durable manufacturing subsectors rose.
Transportation equipment was up 0.6%, as growth in motor vehicle, motor vehicle body and trailer, aerospace product and parts and railroad rolling stock manufacturing was partly offset by declines in manufacturing of motor vehicle parts and other transportation equipment.
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