Canadian GDP edges up 0.1 per cent in January despite reduced Chinese trade [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Canadian GDP edges up 0.1 per cent in January despite reduced Chinese trade Canada’s economy gained 0.1 per cent in January, driven largely by higher manufacturing, Statistics Canada data showed on Tuesday, despite reduced trade with China and advisories against non-essential travel to the Asian superpower affecting potential growth. The figure matched the 0.1 per cent forecast by analysts in a Reuters poll and followed a 0.3 per cent rise in December. Goods-producing industries posted a 0.2 per cent rise, while the services sectors reported a 0.1 per cent increase. Increases were reported in 12 of the 20 industrial sectors tracked by Statscan. In a statement, Statistics Canada said the January figure should serve as a baseline of the Canadian economy for measuring the impact of the coronavirus outbreak on various industries in the coming months. “In January, effects such as reduced trade with China and advisories against non-essential travel to China affected potential growth,” Stats
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