April 02, 2024
Statistics Canada announced that the country's real gross domestic product (GDP) grew 0.6% in January.
Services-producing industries increased 0.7% in January, led by a rebound in educational services following the resolution of the public sector strikes in Quebec in November and December.
Goods-producing industries were up 0.2% in January 2024 with the utilities and manufacturing sectors rebounding from declines in the previous month. Overall, there was broad-based growth with 18 of 20 sectors increasing in January.
The manufacturing sector fully recouped December's decline with a 0.9% increase in January.
Durable goods manufacturing (+0.9%) contributed the most to the increase in January and was largely a result of an increase in the transportation equipment manufacturing subsector (+3.0%). Non-durable goods manufacturing increased 1.0% in January as five of nine subsectors expanded.