Canadian GDP growth in January exceeded forecasts

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In January of this year, the Canadian economy recorded an increase of 0.3% compared to December. Compared with the December increase of 0.1%, GDP growth has somewhat accelerated, according to official statistics. The forecast of analysts assumed the growth in January at the level of 0.1%. In annual terms, GDP growth in January was 1.6%. Its volume at the end of the month was at the level of 1 trillion 950 billion Canadian dollars. Industrial production showed a monthly increase of 0.6%, while in December there was a decrease of 0.8%. The growth rate contributed to an increase in output in the manufacturing industry and construction. In retail, the indicator remained at the level of the previous month, which is observed for two months in a row. Wholesale trade increased 0.8%. Production in the construction sector grew by 1.9%.

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