Canada’s GDP grew 0.6% mom in January, above expectation of 0.4% mom. Services-producing industries increased 0.7% mom. Goods-producing industries were up 0.2% mom. Overall, there was broad-based growth with 18 of 20 sectors increasing.
Advance information indicates that GDP rose 0.4% mom in February. Broad-based increases, with main contributions from mining, quarrying, and oil and gas extraction, manufacturing, and finance and insurance, were partially offset by decreases in utilities.
