Manufacturing sector helps Canada’s GDP grow 0.6 percent in January

Friday, 31 March 2017 00:38:16 (GMT+3)   |   San Diego
       

According to Statistics Canada, gross domestic product grew 0.6 percent in January on the strength of widespread growth across both goods- and service-producing industries. With the exception of October, gross domestic product has risen every month since June 2016.
 
Goods-producing industries grew for the seventh time in eight months, increasing by 1.1 percent in January. Service-producing industries rose 0.4 percent, their highest monthly growth rate since June 2015.
 
The manufacturing sector was the largest contributor to the increase in gross domestic product, expanding 1.9 percent in January. With the exception of October, the manufacturing sector has grown every month since June 2016.
 
Transportation equipment was up 0.6 percent, as growth in motor vehicle, motor vehicle body and trailer, aerospace product and parts and railroad rolling stock manufacturing was partly offset by declines in manufacturing of motor vehicle parts and other transportation equipment.
 
Mining and quarrying excluding oil and gas extraction was up for the fourth month in a row, rising 1.1 percent in January. Metal ore mining gained 4.4 percent, as iron ore mining, copper, nickel, lead and zinc ore mining and gold and silver ore mining expanded, in part from higher exports.
 
The construction sector expanded 0.4 percent in January. Residential construction (+0.5 percent) was up for a third consecutive month on increased alterations and improvements and a rise in apartment construction. Repair construction and engineering and other construction activities rose while non-residential construction declined as industrial, public and commercial construction contracted.

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