GDP grew by 0.5 per cent in January

OTTAWA – Canada’s GDP expanded 0.5 per cent in January, in line with expectations, and up 3.3 per cent year-over-year.

Statistics Canada said growth was driven by manufacturing and, to a lesser extent, by transportation and wholesale trade.

The result matched economists’ expectations for the first month of the year.

Manufacturing grew 2.8 per cent in January compared with a 0.8 per cent gain in December.

Growth was broadly based in both durable and non-durable goods, with makers of fabricated metal products and the auto sector posting the largest increases.

The transportation and warehousing sector advanced 1.2 per cent, helped by higher rail shipments of iron ore and gains in the trucking industry.

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