May 19, 2020

Canada's GDP grew by 0.4 percent in November

Canada statistics
anna smith
1 min
Canada's GDP grew by 0.4 percent in November

In November, the output of Canada’s economy expanded by 0.4 percent, according to Statistics Canada. On Tuesday, the agency reported that the monthly expansion was a reversal of October’s data, when the economy contracted by about 0.3 percent. They also added that the expansion was led by mining, oil and gas, manufacturing and construction.

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."

Industries that produce goods led with a 09 percent growth. Alternatively, the service sector expanded by just 0.2 percent.

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Source: CBC

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