GDP up for fifth straight month in January: Statistics Canada

OTTAWA, Ont. – Real gross domestic product advanced 0.6 per cent in January, its fifth straight monthly increase.

Statistics Canada reported goods-producing industries increased 1.3 per cent, largely on the strength of manufacturing and construction.

Mining and oil-and-gas extraction also increased in January.

The production of services advanced 0.4 per cent, led by wholesale trade.

Retail trade, the finance and insurance sector, transportation and the public sector also rose.

Meanwhile, the output of real estate agents and brokers, some tourism-related industries as well as agriculture and forestry retreated.

After a 1.2 per cent advance in December, manufacturing increased 1.9 per cent in January, with 17 of 21 major groups advancing.

The volume of wholesaling activity increased 2.9 per cent with all wholesaling trade groups posting gains except apparel and alcohol and tobacco.

Value added in the retail trade sector rose 0.8 per cent in January.

Significant increases were registered in building and outdoor home supplies stores, home furnishings stores as well as food and beverage stores. Declines were recorded at new- and used-car dealers and at gasoline stations.

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