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- Canada GDP grows a stronger-than-expected 0.2% in January
Canada GDP grows a stronger-than-expected 0.2% in January
Gross
domestic product, the sum total of goods and services produced in the country,
rose 0.2% to 1.56 trillion Canadian dollars ($1.53 trillion) in January,
erasing the prior month's decline of the same magnitude, Statistics Canada said
Thursday.
The
consensus call was for a 0.1% increase, according to a report from Royal Bank
of
Output in
the goods-producing sector expanded 0.4% on the month, thanks to a 1.2%
bounce-back in manufacturing and a 0.2% gain in mining, quarrying and oil and
gas extraction.
The
services-producing sector rose 0.2%, the most since June 2012, as wholesale
trade expanded 0.7%. The arts, entertainment and recreation component snapped a
six-month losing streak to grow 4.1%--the largest increase since February
2010--as the National Hockey League lockout ended.
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