Canada GDP Grows Stronger-Than-Expected 0.6% in January

By Robb M. Stewart

OTTAWA--Canadian economic output increased slightly more than expected in January thanks to a recovery following the end of public-sector strikes in Quebec and a rebound in manufacturing activity.

Gross domestic product, a broad measure of goods and services produced across the economy, grew 0.6% from the month before to 2.218 trillion Canadian dollars, the equivalent of $1.635 trillion, Statistics Canada said Thursday.

The increase was the strongest monthly advance in GDP by industry in a year and beat the 0.4% consensus expectation of economists, following a revised 0.1% decline in December.

On a one-year basis, GDP rose 0.9%.

The data agency said that advance information indicates GDP increased 0.4% month-over-month in February thanks to broad-based gains, though the estimate will be updated.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

March 28, 2024 08:50 ET (12:50 GMT)

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