The Up and Onward of the Canadian Economy
Statistics Canada reported great news on Monday, displaying a 0.7% increase in the construction sector and a 2% increase in the manufacturing sector, which is the highest jump the sector has seen since July 2011 (up 2.2%). Mining, oil and gas extraction have also seen a nice shift, rising by 1.2% in January, while the service industry recouped some losses with an increase of 0.3%.
All in all Canada’s economy has seen growth in many of its industries after the cold winter seemed to have set us back. With continued growth expected throughout the year, especially as demand south of the border begins to pick up, there is an increased chance that Canada will have better economic news sometime in Q2.
However, despite the good news, the economy was still frozen for nearly two months and Q1 is expected to be weaker than what the central bank had hoped for.
http://business.financialpost.com/2014/03/31/canada-gdp-january/
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