Canada’s economy grew 0.1 per cent in January, slightly above expectations, as goods-producing industries expanded for the second month in a row, Statistics Canada said Tuesday.

Gains in mining, quarrying, and oil and gas extraction, construction and utilities helped push real

gross domestic product (GDP)

slightly above the agency’s expectations for flat growth in January, following a 0.2 per cent increase in December.

The manufacturing sector contracted 1.4 per cent in January, more than offsetting the 1.2 per cent increase in December. Overall, nine of out of 20 industrial sectors expanded in January.

  • Canada’s economic performance has been lagging the U.S. for years, and this is to blame
  • Why market bets for interest rate hikes in Canada are so high

The agency’s advance estimate for February suggests that real GDP increased 0.2 per cent, driven by increases in manufacturing, mining, quarrying, finance and insurance and support services and partially offset by decreases in agriculture, forestry, fishing and hunting.

More to come…

• Email: jswitzer@postmedia.com